ECO 204 Week 1 Discussion 2 NEW

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ECO 204 Week 1 Discussion 2 NEW

If Coke’s price increases, what will happen to the demand or quantity demanded for Pepsi, all other things being equal?

Explain whether it is a movement along the demand curve or a shift of the demand curve.

If Coca-Cola develops a new technology that makes Coke tastier, what will happen to the supply curve and demand curve for Coke?

ECO 204 Week 2 Discussion 1 NEW

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ECO 204 Week 2 Discussion 1 NEW

Identify the determinants of the price elasticity of demand. Explain each one.

ECO 204 Week 3 Discussion 1 NEW

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Sarah owns a bakery that has four ovens, one full-time exempt administrative employee, and eight part-time hourly bakers.

Based on this information, respond to the following: Distinguish between the short run and the long run. What will differentiate the short run and the long run?

Describe fixed inputs and variable inputs. Which inputs are fixed and which are variable in Sarah’s bakery?

ECO 204 Week 3 Discussion 2 NEW

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ECO 204 Week 3 Discussion 2 NEW

How can the long-run average cost (LRAC) curve be derived from the short-run average total cost (SRATC) curve?

Describe economies of scale and diseconomies of scale.

ECO 204 Week 4 Discussion 1 NEW

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ECO 204 Week 4 Discussion 1 NEW