ECO 365 Principles of Microeconomics Complete Course UOP

ECO 365 (Principles of Microeconomics)Week 1ECO 365 Week 1 DQ 1What is economics? What role does economics play in your personal and organizations decisions? Give an example of the role of economics in decision making.ECO 365 Week 1 DQ 2What is the difference between a movement along and shift of the demand curve? Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand, (2) an increase in supply, (3) an increase in both supply and demand. Give an example of the role of supply and demand in decision making. ECO 365 Week 1 DQ 3What is the definition of price elasticity of demand? Explain the relationship between price elasticity and total revenue? How does price elasticity of demand affect a firm’s pricing decisions? How does the availability of substitutes affect price elasticity of demand? Provide examples.· ECO 365-Week 1Article Analysis Food Consumption Pattern (1300+ Words)Week 2ECO 365 Week 2 DQ 1What is average productivity? What is marginal productivity? Explain the relationship between marginal and average productivity. What would happen to marginal and average productivity if a technological innovation is introduced to the production process?ECO 365 Week 2 DQ 2What is the law of diminishing marginal productivity? Give an example from your workplace of the law of diminishing marginal productivity? Might diminishing marginal productivity impact the costs?ECO 365 Week 2 DQ 3Why is the demand of labor a derived demand? Explain the shape of the supply of labor curve. What is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?· ECO 365-Week 2 Supply and Demand Simulations (900+ Words)· Eco 365-Week 2 Learning Team Organization/Industry Paper (1200+ Words)Week 3ECO 365 Week 3 DQ 1What are the conditions for a perfectly competitive market? What are the conditions for a monopolistic market? What are the conditions for a monopolistic competitive market? What are the conditions for an oligopolistic market? How would you explain the differences among these market structures? Identify which market structure your organization competes in and why you think so.ECO 365 Week 3 DQ 2What conditions exist when economic profits are maximized? What is the difference between economic and accounting profits? How could you graphically illustrate economic profits made by a perfectly competitive firm; monopolist; and firm competing in a monopolistic competitive market?ECO 365 Week 3 DQ 3What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets? Will a monopoly always produce at a profit-maximizing level of output? Explain your answer.· ECO 365-Week 3 Current Market Conditions Paper (2000 Words)Week 4ECO 365 Week 4 DQ 1What is an externality? Provide examples. How does an externality affect the market outcome? Is it possible for a government’s solution to a market failure to actually worsen the failure? Explain your answer.ECO 365 Week 4 DQ 2What are the differences among horizontal, vertical, and conglomerate mergers? What does the U.S. government hope to achieve through the use of its antitrust policy? How do the resolutions of the IBM®, AT&T®, and Microsoft® antitrust cases differ? How does international competition affect domestic antirust policy?ECO 365 Week 4 DQ 3What is the cost/benefit approach that a typical economist takes to analyze regulations? What are the goals of taxation? How are economic policies impacted by politics, and how politics make a positive or a negative contribution to economic policy? How does antitrust policy and regulation affect economic welfare?· ECO 365-Week 4Differentiating between Market Structures Simulation (1200+ Words)· ECO 365-Week 4 Learning Team Market Trend PaperWeek 5ECO 365 Week 5 DQ 1What are the impacts of innovation and technology on the cost of production? How does technology affect market structure and real-world competition? Which market structure is best suited for technological innovation? Explain your answer. How has technological innovations affected your organization?ECO 365 Week 5 DQ 2What factors influence a firm’s competitive strategies? How does global economic competition impact the price elasticity in the domestic market and decisions related to the strategy a firm uses to compete? Why do most economists oppose trade restrictions? Who have been the winners and losers as a result of NAFTA? Explain your answer.ECO 365 Week 5 DQ 3How do you define social diversity and business ethics? How has a more diversified labor force affected the corporate structure and the economy? What are some potential roadblocks, ethical or otherwise, in promoting a diverse workplace? Explain your answer.ECO 365-Week 5 Final Project: Wall mart (1400+ Words)