ECO 202 All Assignments
ECO 202 Module 1 Assignment 3 Demand and Supply
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The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books:
Price/E-Book Quantity Demanded Quantity Supplied
$18 4000 10,000
16 5000 9500
14 6000 9000
12 7000 8500
10 8000 8000
9 9000 7500
8 10000 7000
7 11000 6500
6 12000 6000
5 13000 5500
4 14000 5000
2 15000 4500
Assignment Guidelines:
Using Microsoft (MS) Excel, construct a graph showing supply and demand in the E-Book market based on the data above. (Save this file because you will re-work it later in the assignment.) When finished, copy and paste or import your graph into an MS Word document.
(Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and Tutorials link at the top of the page.)
In your MS Word document, below your imported graph, respond to the following:
1. Explain how the Laws of Supply and Demand are illustrated in this graph.
2. Describe the equilibrium price and quantity in this market.
3. Assume that the government imposes a price floor of $12 in the E-Book market. Explain what would happen in this market.
4. Assume that the price floor is removed and a price ceiling is imposed at $6. Explain what would happen in this market.
5. Now, assume that the price of E-Readers (used with E-Books) drops from $60 by fifty percent. How would this change impact the demand for E-Books? Explain your answer. Then, reconstruct your original graph to show this change and place it in your MS Word document below your explanation.
Remember, quotations, paraphrases, and ideas you get from books, articles, or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.
ECO 202 Module 2 Assignment 2 Utility, Elasticity, and Demand
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Prepare a 2-3 page paper in Microsoft Word to address the following:
Describe the ultimate goal of the product campaign for the new shampoo.
Discuss your methods for achieving this goal.
Identify the components of marketing, pricing, and distribution for the campaign.
Include in your response a discussion and analysis of the concepts of utility, price elasticity, and demand.
Assignment Guidelines, Part 2
Using Microsoft Excel:
Prepare a graph which illustrates the desired effect of the marketing campaign as a shift in market equilibrium with reference to price and quantity adjustments.
Prepare another graph to illustrate how a change in consumer utility affects the price elasticity of demand.
Copy and paste or import these graphs into the MS Word document you prepared in Part 1 of this assignment.
(Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and Tutorials link at the top of the page.)
ECO 202 Module 3 Assignment 2 LASA 1 The Cost of Production
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Joseph Farms, Inc. is a small firm in the agricultural industry. They have asked you to help them complete the limited data they have gathered in an effort to enable effective decision-making. Some work can be done using MS Excel but it must be copied to an MS Word file for the final submission of this assignment. To assist Joseph Farms, Inc., respond to the following:
data is been given :
Using MS Excel or a table in MS Word, complete Table-1 (Joseph Farms, Inc., Cost and Revenue Data).
Assume that the price is $165.
Assume the fixed costs are $125, at an output level of 1.
Assume that the data represents a firm in pure competition.
Show your calculations in summary form.
Explain the MC=MR Rule. Describe the market structures to which this rule applies.
Create a chart to illustrate the data in Columns 9 and 10.
Describe the profit maximizing (or loss minimizing) output for this firm. Explain why or why not there an economic profit?
Explain why a firm in pure competition is considered to be a “price taker.”
(Assignment continues below Table-1.)
ECO 202 Module 4 Assignment 2 Market Forms
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For this assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions faced by firms that are not in pure competition. Some numbers may be rounded.
Table 1
Output Average Fixed cost Average Variable Cost Average Total Cost Marginal Cost Price Total Revenue Marginal Revenue
0 $ 345.00
1 $ 180.00 $ 135.00 $ 315.00 $ 300.00
2 $ 90.00 $ 127.50 $ 217.50 $ 249.00
3 $ 60.00 $ 120.00 $ 180.00 $ 213.00
4 $ 45.00 $ 112.50 $ 157.50 $ 189.00
5 $ 36.00 $ 111.00 $ 147.00 $ 165.00
6 $ 30.00 $ 112.50 $ 142.50 $ 144.00
7 $ 25.71 $ 115.70 $ 141.41 $ 126.00
8 $ 22.50 $ 121.90 $ 144.40 $ 111.00
9 $ 20.00 $ 130.00 $ 150.00 $ 99.00
10 $ 18.00 $ 139.50 $ 157.50 $ 87.00
Address the following:
1. Complete Table-1. Summarize your calculations.
2. Prepare a graph showing:
o Average Fixed Costs
o Average Variable Costs
o Average Total Costs
o Marginal Revenue
o Marginal Costs
3. Using the data in the table and on your graph, explain the profit maximizing, or loss minimizing level of output.
4. Define a normal profit and an economic profit. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.
5. Given the data in the table and the graph, what type of market structure could this be in the short run? Explain your answers.
6. If the data in Table-1 represents the long run, what type of firm must this data represent? Explain your answers.
ECO 202 Module 5 Assignment 1 LASA 2 Supply and Demand in a Global Market
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Answer the following questions using examples and applications from the readings. Justify your answers using economic concepts and ideas as they apply. Each response should be between 100-200 words.
Questions:
The demand for labor is said to be a “derived” demand. What is the meaning of a derived demand? How does this concept help to determine the demand for labor?
What are some of the factors that determine the supply of labor in a market? What significant factors have changed the supply of labor over the last twenty years?
How does a firm determine its prices and the quantity of labor required in the resource market during a specific period?
Why do income inequalities exist? How are income inequalities measured? How have income inequalities changed from 1980 to the present?
What is the role of the U.S. government, in terms of dealing with the problem of income inequalities? What are the arguments, for and against, government involvement in this area?
Why do nations trade? What is meant by the concept of “Comparative Advantage”? Could a nation be better off economically, if it practiced an isolation policy?
The United States has had a significant trade imbalance for several years. What are the problems associated with having a negative trade balance? What can be done to correct the imbalance?
How are exchange rates determined? What is the significance of currency devaluations to the home country? To other countries?
Remember, quotations, paraphrases, and ideas you get from books, articles, or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.
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ECO 202 Module 1 Assignment 3 Demand and Supply
Click Below Link To Purchase
www.foxtutor.com/product/eco-202-module-1-assignment-3-demand-and-supply
The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books:
Price/E-Book Quantity Demanded Quantity Supplied
$18 4000 10,000
16 5000 9500
14 6000 9000
12 7000 8500
10 8000 8000
9 9000 7500
8 10000 7000
7 11000 6500
6 12000 6000
5 13000 5500
4 14000 5000
2 15000 4500
Assignment Guidelines:
Using Microsoft (MS) Excel, construct a graph showing supply and demand in the E-Book market based on the data above. (Save this file because you will re-work it later in the assignment.) When finished, copy and paste or import your graph into an MS Word document.
(Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and Tutorials link at the top of the page.)
In your MS Word document, below your imported graph, respond to the following:
1. Explain how the Laws of Supply and Demand are illustrated in this graph.
2. Describe the equilibrium price and quantity in this market.
3. Assume that the government imposes a price floor of $12 in the E-Book market. Explain what would happen in this market.
4. Assume that the price floor is removed and a price ceiling is imposed at $6. Explain what would happen in this market.
5. Now, assume that the price of E-Readers (used with E-Books) drops from $60 by fifty percent. How would this change impact the demand for E-Books? Explain your answer. Then, reconstruct your original graph to show this change and place it in your MS Word document below your explanation.
Remember, quotations, paraphrases, and ideas you get from books, articles, or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.
ECO 202 Module 2 Assignment 2 Utility, Elasticity, and Demand
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www.foxtutor.com/product/eco-202-module-2-assignment-2-utility,-elasticity,-and-demand
Prepare a 2-3 page paper in Microsoft Word to address the following:
Describe the ultimate goal of the product campaign for the new shampoo.
Discuss your methods for achieving this goal.
Identify the components of marketing, pricing, and distribution for the campaign.
Include in your response a discussion and analysis of the concepts of utility, price elasticity, and demand.
Assignment Guidelines, Part 2
Using Microsoft Excel:
Prepare a graph which illustrates the desired effect of the marketing campaign as a shift in market equilibrium with reference to price and quantity adjustments.
Prepare another graph to illustrate how a change in consumer utility affects the price elasticity of demand.
Copy and paste or import these graphs into the MS Word document you prepared in Part 1 of this assignment.
(Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and Tutorials link at the top of the page.)
ECO 202 Module 3 Assignment 2 LASA 1 The Cost of Production
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Joseph Farms, Inc. is a small firm in the agricultural industry. They have asked you to help them complete the limited data they have gathered in an effort to enable effective decision-making. Some work can be done using MS Excel but it must be copied to an MS Word file for the final submission of this assignment. To assist Joseph Farms, Inc., respond to the following:
data is been given :
Using MS Excel or a table in MS Word, complete Table-1 (Joseph Farms, Inc., Cost and Revenue Data).
Assume that the price is $165.
Assume the fixed costs are $125, at an output level of 1.
Assume that the data represents a firm in pure competition.
Show your calculations in summary form.
Explain the MC=MR Rule. Describe the market structures to which this rule applies.
Create a chart to illustrate the data in Columns 9 and 10.
Describe the profit maximizing (or loss minimizing) output for this firm. Explain why or why not there an economic profit?
Explain why a firm in pure competition is considered to be a “price taker.”
(Assignment continues below Table-1.)
ECO 202 Module 4 Assignment 2 Market Forms
Click Below Link To Purchase
www.foxtutor.com/product/eco-202-module-4-assignment-2-market-forms
For this assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions faced by firms that are not in pure competition. Some numbers may be rounded.
Table 1
Output Average Fixed cost Average Variable Cost Average Total Cost Marginal Cost Price Total Revenue Marginal Revenue
0 $ 345.00
1 $ 180.00 $ 135.00 $ 315.00 $ 300.00
2 $ 90.00 $ 127.50 $ 217.50 $ 249.00
3 $ 60.00 $ 120.00 $ 180.00 $ 213.00
4 $ 45.00 $ 112.50 $ 157.50 $ 189.00
5 $ 36.00 $ 111.00 $ 147.00 $ 165.00
6 $ 30.00 $ 112.50 $ 142.50 $ 144.00
7 $ 25.71 $ 115.70 $ 141.41 $ 126.00
8 $ 22.50 $ 121.90 $ 144.40 $ 111.00
9 $ 20.00 $ 130.00 $ 150.00 $ 99.00
10 $ 18.00 $ 139.50 $ 157.50 $ 87.00
Address the following:
1. Complete Table-1. Summarize your calculations.
2. Prepare a graph showing:
o Average Fixed Costs
o Average Variable Costs
o Average Total Costs
o Marginal Revenue
o Marginal Costs
3. Using the data in the table and on your graph, explain the profit maximizing, or loss minimizing level of output.
4. Define a normal profit and an economic profit. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.
5. Given the data in the table and the graph, what type of market structure could this be in the short run? Explain your answers.
6. If the data in Table-1 represents the long run, what type of firm must this data represent? Explain your answers.
ECO 202 Module 5 Assignment 1 LASA 2 Supply and Demand in a Global Market
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Answer the following questions using examples and applications from the readings. Justify your answers using economic concepts and ideas as they apply. Each response should be between 100-200 words.
Questions:
The demand for labor is said to be a “derived” demand. What is the meaning of a derived demand? How does this concept help to determine the demand for labor?
What are some of the factors that determine the supply of labor in a market? What significant factors have changed the supply of labor over the last twenty years?
How does a firm determine its prices and the quantity of labor required in the resource market during a specific period?
Why do income inequalities exist? How are income inequalities measured? How have income inequalities changed from 1980 to the present?
What is the role of the U.S. government, in terms of dealing with the problem of income inequalities? What are the arguments, for and against, government involvement in this area?
Why do nations trade? What is meant by the concept of “Comparative Advantage”? Could a nation be better off economically, if it practiced an isolation policy?
The United States has had a significant trade imbalance for several years. What are the problems associated with having a negative trade balance? What can be done to correct the imbalance?
How are exchange rates determined? What is the significance of currency devaluations to the home country? To other countries?
Remember, quotations, paraphrases, and ideas you get from books, articles, or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.
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