ECO 204 ASH COURSE/UOPHELP

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ECO 204 Entire Course

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ECO 204 Week 1 DQ 1 Elasticity of Demand
ECO 204 Week 1 DQ 2 Marginal Utility
ECO 204 Week 2 DQ 1 Tax Credits and the Labor Market
ECO 204 Week 2 DQ 2 Reduction of Costs
ECO 204 Week 3 DQ 1 Perfect Competition
ECO 204 Week 3 DQ 2 Oligopoly/Monopolistic Competition
ECO 204 Week 3 Assignment Manufacturing Industry Evaluation
ECO 204 Week 4 DQ 1 Externalities
ECO 204 Week 4 DQ 2 Tax Base
ECO 204 Week 5 DQ 1 Comparative and Absolute Advantage
ECO 204 Week 5 DQ 2 Equity versus Growth

ECO 204 Week 5 Final Paper (potato chip industry)

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ECO 204 Week 5 Final Paper

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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; firms were earning a normal rate of return and were competing in a monopolistically competitive market structure. In 2008, two smart lawyers quietly bought up all the firms and began operations as a monopoly called “Wonks.” To operate efficiently, Wonks hired a management consulting firm, which estimated a different long-run competitive equilibrium.

1. Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?

2. Given the transition from a monopolistically competitive firm to a monopoly, what will be the changes with regard to prices and output in both of these market structures?

3. What market structure is more beneficial for Wonks to operate in, and will this be the same market structure that will benefit consumers?

Be sure to explain the reasoning behind each of your answers.

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ECO 204 Week 2 DQ 2 Reduction of Costs

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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 cards reduce the firm’s total fixed costs or its total variable costs? Explain your answer and respond to at least two of your fellow students’ postings.

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ECO 204 Week 4 DQ 2 Tax Base

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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? Do you think the tax that was imposed either efficient or equitable? Respond to at least two of your fellow students’ postings.

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ECO 204 Week 4 DQ 1 Externalities

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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 are opposing the repeal of tolls on the grounds that they serve to internalize externalities. Explain this argument and discuss why the government often gets involved when finding solutions for externalities. Respond to at least two of your fellow students’ postings.

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