2011, Form B, Question 1 · 10 points
Rose industry demand rise in increasing-cost competition
Draw side-by-side market and firm graphs for a competitive industry in long-run equilibrium, then show a demand increase. Explain how entry changes the number of firms and the firm's costs, and compare the new long-run price with the old prices.
This exam had three free-response questions with 10 minutes of planning and 50 minutes of writing, and the directions suggested spending about half the time on Question 1 and splitting the rest evenly between Questions 2 and 3. The current exam has 3 free-response questions in 60 minutes. The skills these questions practice still count.
1 Read the question
The question is College Board's, from the 2011, Form B exam. It starts on page 2 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 March 22, 2023.
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 2)
Question, scoring guidelines: College Board, from the Internet Archive. The title, summary are ours.