FRQ: Elasticity & Tax Incidence
弹性与税负
弹性计算、税负归宿、弹性与总收入关系的FRQ专项练习
Question 1 (4 points)
When the price of good X increases from $5 to $7, the quantity demanded decreases from 100 to 60. Calculate the price elasticity of demand using the midpoint formula. Is demand elastic, inelastic, or unit elastic?
Type: Calculation
Suggested time: 6 minutes
Suggested time: 6 minutes
Question 2 (5 points)
Using a graph, show why a tax on a good with inelastic demand results in a greater tax burden on consumers than on producers. Label the price consumers pay (Pc), the price producers receive (Pp), and the tax wedge.
Type: Graph Drawing
Suggested time: 8 minutes
Suggested time: 8 minutes
Question 3 (5 points)
A firm's total revenue is $1000 when it charges $10 and $880 when it charges $11. (a) Calculate the price elasticity of demand. (b) Should the firm raise or lower price to increase total revenue? Explain.
Type: Calculation + Explanation
Suggested time: 8 minutes
Suggested time: 8 minutes
答题提示
- 图表题：确保正确标注坐标轴、曲线和关键点
- 计算题：写出完整计算过程，标明最终答案
- 解释题：先陈述结论，再用经济学原理解释
- AP考试FRQ每题约6分钟