2005, Form B, Question 2 · 8 points
Naming short-run cost curves on a graph
Identify three cost curves on a given graph, explain the shape of marginal cost using returns to labor, name and explain the shrinking gap between two average cost curves, and pick points on the firm's supply curve.
This exam had three free-response questions in 50 minutes of writing time after a 10 minute planning period, with about half the time suggested for Question 1 and the rest split evenly between Questions 2 and 3. The current exam has 3 free-response questions in 60 minutes. The skills these questions practice still count.
Lessons this question draws on
1 Read the question
The question is College Board's, from the 2005, Form B exam. It starts on page 3 of the PDF. College Board no longer posts this exam, so it opens from the copy of College Board's PDF that the Internet Archive saved on August 16, 2022.
2 Write your answer
Answer each part the way you would on the exam, in full sentences, with your work shown. Your writing saves as you type.
3 Score it
Score your answer against College Board's scoring guidelines, one point at a time. Give yourself a point only when your answer says what the guideline asks for.
Scoring guidelines (PDF, page 4)
Question, scoring guidelines: College Board, from the Internet Archive. The title, summary are ours.