AP®︎ Microeconomics: Topic 3.1 Practice Test
Prepare for your quiz, test, or the AP exam with focused practice questions on Topic 3.1 of AP Microeconomics – The Production Function.
Questions List
Topic 3.1
Question 1 Easy
This question tests the following: PRD-1.A.1
In economics, what is production?
What You’re Being Tested On:
Explore the learning objectives taken directly from the College Board’s AP® Microeconomics Curriculum. Ensure you’re prepared for the exact topics covered on the AP® exam, in-class tests, and quizzes, and gain confidence in your mastery of the material.
Topic 3.1: The Production Function
Learning Objective: PRD-1.A
a. Define (using graphs where appropriate) key terms and concepts relating to production and cost. b. Explain (using graphs where appropriate) how production and cost are related in the short run and long run. c. Calculate (using data from a graph or table as appropriate) the various measures of productivity and short-run and long-run costs.
Essential Knowledge: PRD-1.A.1
The production function explains the relationship between inputs and outputs both in the short run and the long run.
Essential Knowledge: PRD-1.A.2
Marginal product and average product change as input usage changes, and hence, total product changes.
Essential Knowledge: PRD-1.A.3
Diminishing marginal returns occur as the firm employs more of one input, holding other inputs constant, to produce a product (output) in the short run.
