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
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ECO 204 Week 1 DQ 1 Elasticity of Demand
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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, revenues increased by only about 5 percent. What can you infer about the elasticity of demand for taxicab rides? What were taxicab drivers assuming about the elasticity of demand? Respond to at least two of your
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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....