ECO 204 UOP Courses/Uophelp

1. ECO 204 ASH COURSE TUTORIAL For more course tutorials visit www.uophelp.com

2. ECO 204 ASH COURSE TUTORIAL ECO 204 Entire Course ECO 204 Week 1 DQ 1 Elasticity of Demand Elasticity of Demand. Taxicab fares in most cities are regulated. Several years ago taxicab drivers in Boston obtained permission to raise their fares 10 percent, and they anticipated that revenues would increase by about 10 percent as a result. However, when the commissioner granted the 10 percent increase • ECO 204 Week 1 DQ 1 Elasticity of DemandECO 204 Week 1 DQ 2 Marginal UtilityECO 204 Week 2 DQ 1 Tax Credits and the Labor MarketECO 204 Week 2 DQ 2 Reduction of CostsECO 204 Week 3 DQ 1 Perfect Competition

3. ECO 204 ASH COURSE TUTORIAL ECO 204 Week 1 DQ 2 Marginal Utility ECO 204 Week 2 DQ 2 Reduction of Costs Reduction of Costs. In an effort to reduce their total costs, many companies are now replacing paychecks with payroll cards, which are stored-value cards onto which the companies can download employees’ wages and salaries electronically. If the only factor of production that a company varies in the short run is the number of hours worked by people on its payroll, would shifting from paychecks to payroll • Marginal Utility. Suppose that you observe that total utility rises as more of an item is consumed. What can you say for certain about marginal utility? Can you say for sure that it is rising or falling or that it is positive or negative? When does the law of diminishing marginal utility set in and what does this illustrate about where

4. ECO 204 ASH COURSE TUTORIAL ECO 204 Week 3 DQ 1 Perfect Competition ECO 204 Week 3 DQ 2 Oligopoly/Monopolistic Competition. Which of the following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Make sure in your answer to relate it to the characteristics of the market structures. Explain your answer. If you are not sure • Perfect Competition. A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale.

5. ECO 204 ASH COURSE TUTORIAL ECO 204 Week 4 DQ 1 Externalities ECO 204 Week 4 DQ 2 Tax Base Tax Base. Suppose a special tax was introduced that used the value of one’s automobile as the tax base. Each person would pay taxes equal to 10 percent of the value of his or her car. Would the tax be proportional, progressive, or regressive? What assumptions do you make in answering this question • Externalities. It has been proposed that toll collection on the Massachusetts Turnpike, a key commuter route into Boston from the west, be discontinued. Proponents argue that tolls have long ago paid for the cost of building the road; now they just provide cash for tax bureaucracy. A number of economists

6. ECO 204 ASH COURSE TUTORIAL ECO 204 Week 5 DQ 1 Comparative and Absolute Advantage ECO 204 Week 5 DQ 2 Equity versus Growth Equity versus Growth. For a developing country to grow, it needs capital. The major source of capital in most countries is domestic saving, but the goal of stimulating domestic saving usually is in conflict with government policies aimed at reducing inequality in the distribution of income. Comment on • Comparative and Absolute Advantage. If you were President of the US and you were making decisions on trading, would you rather have a comparative or absolute advantage in trading? Can you have both a comparative

7. ECO 204 ASH COURSE TUTORIAL ECO 204 Week 5 Final Paper • Focus of the Final Paper • Review the following information pertaining to the potato chip industry and answer the questions below in a five to six double spaced page paper (not including title and reference pages). • In 2007, the potato chip industry in the Northwest was competitively structured and in long-run competitive equilibrium

8. ECO 204 ASH COURSE TUTORIAL For more course tutorials visit www.uophelp.com