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Economic decision rule - Marginal benefits vs. marginal costs - Sunk costs - Define opportunity cost and explain its importance to economic reasoning … AP Microeconomics: Exam Study Guide Format: 60 MC questions worth 66.67% of total. In general, though, AP tests with narrower scopes, without too many complex concepts, and in subject areas in which you have special interests or talents will be the best choices for self-study. Create an account to start this course today It [s intended to be a Microeconomics looks at the individual markets that make up the market system and is concerned with the choices made by small economic units such as individual consumers, individual firms, or individual … Complete Study Guide covering all aspect of Macroeconomics to help you study for your next AP, IB, or College Principles Exam. guide, but also to the syllabi presented on AP Central, to ensure that each course labeled AP meets the standards of a college-level course. 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