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ECO 204 ASSIST EXPECT SUCCESS \ECO204AS

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ECO 204 ENTIRE COURSE (ASH)

Circular Flow Diagram. Explain how the circular flow diagram


relates to the current economic situation. Using the circular f
low diagram, explain a way that your family interacts in the f
actor market and a way that it interacts in the products mark
et.
Supply and Demand. Analyze how the law of demand applies
to a recent purchase that you made. Describe how the produ
ct has changed in price and explain whether the price chang
e is due to supply or demand. Did the change in price affect
your decision to purchase the item?

ECO 204 WEEK 1 DQ 1 CIRCULAR FLOW DI


AGRAM (ASH)

Circular Flow Diagram. Explain how the circular flow diagram


relates to the current economic situation. Using the circular f
low diagram, explain a way that your family interacts in the f
actor market and a way that it interacts in the products mark
et.

ECO 204 WEEK 1 DQ 2 SUPPLY AND DEMA


ND (ASH)

Supply and Demand. Analyze how the law of demand applies


to a recent purchase that you made. Describe how the produ
ct has changed in price and explain whether the price chang
e is due to supply or demand. Did the change in price affect
your decision to purchase the item?

ECO 204 WEEK 1 QUIZ (ASH)

ECO 204 Week 1 Quiz (Ash)

ECO 204 WEEK 1 QUIZ

ECO 204 Week 1 Quiz

ECO 204 WEEK 2 DQ 1 ELASTICITY (ASH)

Elasticity. Analyze the determinants of the price elasticity of


demand and determine if each of the following products are
elastic or inelastic:
a. bottled water
b. toothpaste
c. cookie dough ice cream
d. fresh green beans
e. gasoline
In your analysis, please make sure to explain your reasoning
and relate your answers to the characteristics of the determi
nants of the price elasticity of demand.

ECO 204 WEEK 2 DQ 2 EXTERNALITIES (ASH)

Externalities. Explain the difference between a positive and n


egative externality. In your analysis, make sure to provide an
example of each type of externality. Why does the governme
nt need to get involved with externalities to bring about mar
ket efficiency? What solutions need to be provided for your e
xamples?

ECO 204 WEEK 2 RAISE OR LOWER TUITIO


N (ASH)

Raise or Lower Tuition? You have been hired by Nobody Stat


e University (NSU) as a consultant to help the university with
how to increase their total revenue. The university has been
struggling in recent years, so they have hired you to help the
m in their last attempt to find an appropriate solution so tha
t the university can survive.
Raise or Lower Tuition? Suppose that, in an attempt to raise
more revenue, Nobody State University increases its tuition.
Assess a raise in tuition and if it will necessarily result in mor
e revenue.

ECO 204 WEEK 3 DQ 1 SHORT AND LONG


RUN (ASH)

Short and Long Run. Lets assume that you own a fast food r
estaurant and you are faced with many customers each day
eating in the restaurant without any tables. Describe the diff
erence between the short run and long run in the example t
o bringing about more tables for the customers. How is the r
estaurant able to differentiate between the short run and lon
g run?

ECO 204 WEEK 3 DQ 2 FIXED AND VARIABLE C


OSTS (ASH)

Fixed and Variable Costs. After reading Chapter 8 in the text


and viewing the required video for this week, Fixed, variable,
and marginal cost, address the following in your initial post:
a. First, describe several different fixed costs and variable co
sts associated with operating an automobile.

ECO 204 WEEK 3 QUIZ (ASH)

ECO 204 Week 3 Quiz (Ash)

ECO 204 WEEK 4 DQ 1 MARKET STRUCT


URES (ASH)

Market Structures. Explain the most important characteristic


in perfect competition, monopolistic competition, oligopoly,
and monopolies and relate the characteristic to how these fir
ms can make profits in the short run. In your analysis, make
sure to relate an example for each of the market structures li
sted and how it relates to the particular characteristics.

ECO 204 WEEK 4 DQ 2 BARRIERS TO EN


TRY (ASH)

Barriers to Entry. Analyze the major barriers for entry and ex


it into the airline industry. Explain how each barrier can foste
r either monopoly or oligopoly. What barriers, if any, do you
feel give rise to monopoly that will allow the government to
become involved to protect consumers?

ECO 204 WEEK 4 QUIZ (ASH)

ECO 204 Week 4 Quiz (Ash)

ECO 204 WEEK 5 DQ 1 TRANSFERS (ASH)

Transfers. Why would cash transfers typically be preferred by


recipients over in-kind transfers? What are the pros and cons
of each from a government perspective? Respond to at least
two of your classmates.

ECO 204 WEEK 5 DQ 2 TARIFFS AND QUOT


AS (ASH)

Tariffs and Quotas. Who gains and who loses from a tariff? H
ow do the effects of tariffs differ from the effects of quotas? I
f you were a small country, what would you rather utilize?

ECO 204 WEEK 5 FINAL PAPER (ASH)

You have been hired as a consultant by your local mayor to l


ook at the various market structures. Your role is to provide
analysis and answers to these important questions that will
help the mayor understand the structures of many of the bu
sinesses in his city:

ECO 204 ASSIST EXPECT SUCCESS \ECO204AS


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