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Microeconomics Essay Examples and Topics

Types of Market Failure

The main aim of the government is to create perfect competition in the market. When the economies of scale are larger, the government may allow the firm to practice monopoly but choose to regulate the [...]
  • Pages: 2
  • Words: 638

Wealth Distribution Inequality in the World

Economists tend to solve the dilemma of the big question of how the society can be organized in a way that the liberty and autonomy of an individual can be protected yet at the same [...]
  • Pages: 5
  • Words: 1554

Elasticity of Demand in the Automobile Market

The paper goes into solemn features into the techniques and outlines of multifaceted research of the response of the automobile market to alter in automobile production features, comprising produce price, cost of use, and presentation.
  • Pages: 2
  • Words: 596

Saudi Arabia Economic Brief

When compared to the previous year, the GDP of Saudi Arabia was estimated at $645 billion in 2017, signifying economic growth.
  • Pages: 3
  • Words: 832

Vaccination Case Analysis Using Game Theory

The present study will focus on a particular case of vaccination that is covered by UNICEF and analyze the specifics of strategic decision-making in it with the help of the game theory.
  • Pages: 5
  • Words: 1495

Factors for Substitutes of a Good

They are the consideration of the period, the degree of luxury of the good, the market definition, and the significance of this good for budget.
  • Pages: 1
  • Words: 182

Student Textbooks’ Costs and Publishing Oligopoly

Due to the oligopoly that publishing companies hold in the academic market, the price per textbook is very high, which can be addressed by increasing the number of publishing companies and introducing healthy competition and [...]
  • Pages: 2
  • Words: 578

Supply and Demand Changes: Pork and Oil Prices

The purpose of this assignment was to find two examples of changes in supply and demand and explain them using the graphs provided in the course materials. The smaller quantity of hogs available corresponds to [...]
  • Pages: 3
  • Words: 826

Microeconomics: Medication Types and Demand

This paper addresses the differences between the demand for these types of drugs with the focus on such concepts as the price elasticity of demand, income elasticity of demand, cross elasticity of demand.
  • Pages: 2
  • Words: 597

Economics: Production Versus Productivity

In the production process, the rate of productivity establishes the profitability, effectiveness, and performance of the organization. The cost of production signifies the expenditure in terms of materials and labor that an organization incurs during [...]
  • Pages: 2
  • Words: 568

Cost and Production Functions in Economic Theory

The extent of total production denotes the output generated by an organization in the course of a given year. The average production determines the degree of contribution of each worker and is computed by dividing [...]
  • Pages: 2
  • Words: 276

Monopolies and Market Power in the US Economy

On the other hand, monopolies aim to drive their competitors out of business or threaten new entrants to the market by setting prices below their costs and absorb losses until their competitors cannot survive longer.
  • Pages: 2
  • Words: 267

Microeconomics: Art Gallery’s Pricing Strategy

If the curator chooses to go for the second alternative of lowering the price of admission, then the revenue to the firm will increase in case the number of visitors will be considerably increased.
  • Pages: 2
  • Words: 704

Business Microeconomics Questions

When there is a change in the non-price determinants of demand, there is a shift in the entire demand curve. On the other hand, if there is a change in the price of a commodity, [...]
  • Pages: 5
  • Words: 1249

Peak Pricing Applied to Energy Sector

Peak pricing is often applied by governments and other private entities to balance the forces of demand and supply of a product during high season when the demand is skyrocketing and low season when the [...]
  • Pages: 2
  • Words: 579

Peak Pricing Strategy and 1973 Oil Crisis in the US

The reasoning under peak pricing is that charging higher prices for commodities in the market when the demand is very high is a prerequisite for balancing the supply side and the demand side to avoid [...]
  • Pages: 2
  • Words: 587

The Australian Economy: Private Examples and Problems

Australia is considering imposing a carbon tax on certain carbon-producing production Processes. The amount of carbon emitted from production processes is effectively reduced through the imposition of the carbon tax.
  • Pages: 11
  • Words: 2170

Safaricom Company in the Changing Monopoly Market

Therefore, in the short run, the behavior of the oligopoly model is that it is tough to enter such a market, especially if the economic scale does not measure up to the companies in the [...]
  • Pages: 4
  • Words: 1152

Caesars Palace Hotel’s Product Pricing Components

In relatively inelastic demand situations, the elasticity of demand is less than one unit and the quantity demanded changes by a smaller percentage than price. Price increase leads to relatively larger decrease in quantity of [...]
  • Pages: 2
  • Words: 607

Alcoholic Drinks Market Analysis

Demand and supply are the foundations of economic analysis in the interaction of the two market forms. The law of demand and supply works in divergent ways in the sense that, when prices of commodities [...]
  • Pages: 11
  • Words: 2976

Economics of Organized Crime and Drug Trafficking

Three major conditions associated with the development and origins of mafias include the abdication of legitimate government power, excessive bureaucratic power, and the financial potential of illegal markets.
  • Pages: 9
  • Words: 2148

Managerial Economics Conceptions

Therefore, it will appear that the total amount of the fee is $20,000 and that the student pays less than half of the fees.
  • Pages: 5
  • Words: 1294

Floods, Technology and Price Ceiling in the Market

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From the graph, assuming that the equilibrium price in the fruits and vegetable market was EQ0, the floods destroy the products in the fields and this causes a shift of the supply curve to the [...]
  • Pages: 4
  • Words: 1149

Cola Magic Company’s Microeconomics

The own price elasticity of demand is given by; Where p0 is the original price before the change, p1 is the price after the change; q0 is the original quantity before the change while the [...]
  • Pages: 4
  • Words: 1100

Cost Minimization for a Firm’s Production

5 L 0.5. Q is the quantity of output of the good, L denotes the quantity of labor used in the production of the good, and k denotes the quantity of capital used in the [...]
  • Pages: 6
  • Words: 381

Welfare Department Assisting Low-Income Households

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It is noted that the welfare department is considering two alternative policies to meet its target: Providing the low-income household with a voucher which can be exchanged for a fixed amount of good x in [...]
  • Pages: 5
  • Words: 1070

Economic Events: Microeconomic Project

Depending on how much the oil prices increase, the effect on supply of beef is likely to be negative as the price of beef will go up prompting a decrease of demand for beef and [...]
  • Pages: 5
  • Words: 1380

Night Club Monopoly Competition in the UK

The operations in this model are that a recent monopoly will continue enjoying the supernormal profits in the short run. This occurs in the long run after the entry of a new similar but differentiated [...]
  • Pages: 3
  • Words: 827

Microeconomics Principles and Theories

Hence, when the price of the product or good decreases in a given economy; consumers benefit from buying more of that good. Elasticity of demand occurs when the consumer- demand declines drastically as a result [...]
  • Pages: 9
  • Words: 2478

Supply and Demand in Keynesian and Classical Models

This paper interpolates the effects on the following: When the rate of interest is increased, then the cost of getting finances is increased, the most direct result is a reduction in investments, investment results to [...]
  • Pages: 5
  • Words: 1387

American Charter Schools’ Demand and Supply

The analysis of the performance of the charter schools to that of the public and traditional schools illustrated that the performance of the charter schools was exemplary as compared to the low rates of performance [...]
  • Pages: 2
  • Words: 551

Business Operation and Perfect Competition

The paper also argues that another business operating under the condition of perfect competition makes supernormal returns in the short-run following the absence of competition and normal proceeds in the long term after rival businesses [...]
  • Pages: 9
  • Words: 2565

Gray Market Promotive Factors and Effects

Also, the paper establishes the impact of gray goods on authorized distributors, customers, manufacturers, gray market arbitrage, and the country. As a result, the authorized distributors may be demotivated and deprived of the incentive to [...]
  • Pages: 4
  • Words: 1137

Qatar Petroleum Company: Price of Oil

The key characteristics of the market environment that Qatar Petroleum operates in include long run profits and the interdependence of the company with smaller companies and other major players such as ExxonMobil.
  • Pages: 4
  • Words: 1208

Legal Marijuana Market Analysis and Taxes Impact

Consequently, the primary goal of this paper is to understand the impact of taxes on the financial stability of the market for legal marijuana with the help of the law of supply and demand and [...]
  • Pages: 4
  • Words: 1273

Pareto Optimal Solutions in Economics

Taking into consideration the fact that the world's population is growing and the number of businesses increases rapidly, it is critical to pay attention to the resources used to fulfill diverse needs.
  • Pages: 2
  • Words: 300

London Sites and Microeconomics History

The names are given the statues upon which the bridge rests, with such titles as the Statue of Agriculture, the Statue of Commerce, and more in a similar vein, cement the idea of the bridge [...]
  • Pages: 6
  • Words: 1640

Personal Income, Oil Price and Vehicle Demand

The focus of this paper is on estimating a demand function showing to what extent fluctuations in the OPEC oil price since 1990 and personal income predict the number of vehicles in the U.S.and personal [...]
  • Pages: 5
  • Words: 1479

British Telecom Group’s Market Model

The company offered monopoly telephone services in the UK. BT was later sold to private investors in 1982 when the government sold part of the company's shares.
  • Pages: 5
  • Words: 1370

Government Market Intervention in the US

It is the responsibility of the government to make the economy attractive. In this case, the government assumes that the public lacks the ability to make judgment on the consumption of certain goods.
  • Pages: 5
  • Words: 1425

Income Inequality and Its History in the US

During the World War II, The National Labor Board reduced the income for the top earners while at the same time increasing the income for the poor and the working class.
  • Pages: 2
  • Words: 555

Hilton Hotels and Price Elasticity in Tourism

The latter defines how the changes in the price of a substitute product affect the price of the one that is being discussed The elasticity is found by dividing the percentage change in the dependent [...]
  • Pages: 2
  • Words: 717

Microeconomics of Customer Relationships

The contentious issue of the articles is measuring the contributions that customers provide to the development of the company. In the provided article, the author explores the Net Promoter Score model of quantifying customer's contributions [...]
  • Pages: 4
  • Words: 1100

Economies and Diseconomies of Scale

This arises from a situation where the firm is no longer able to manage its unit cost of production. However, between a total production capacity of 250 units and 300, the firm is no longer [...]
  • Pages: 4
  • Words: 1406

The UPS Store: Supply and Demand

The expansiveness of the UPS products can lead to the company losing a big part of its customers. The quantity change can evoke a demand increase as well if the company lowers the prices for [...]
  • Pages: 2
  • Words: 574

UPS Store Franchise as a Model of a Startup

Thus, the evaluation of the UPS's work shows that the franchise's land and labor productivity rank extremely high, due to the corporation's constant extensions. Consequently, the UPS store serves as a model of a prosperous [...]
  • Pages: 2
  • Words: 585

Income Effect and Substitution Effect

It is necessary, to begin with, the evaluation of the role of prices, demand, and supply in everyday lives to understand the nature of income and substitution effects.
  • Pages: 4
  • Words: 1146

Khaki Pants Supply and Demand Factors

The price of the cloth used to make khaki pants falls The price of the product is more likely to decline, if the cost of cloth declines, because the manufacturing expenses of companies will diminish.
  • Pages: 2
  • Words: 727

Local Business Role for South Africa’s Economy

The main issue revealed in the article is the problem of the local business and its competitiveness with global enterprises. The major part of the researches is apt to think that the benefits of the [...]
  • Pages: 2
  • Words: 319

The East West link Project

The intention of the Victorian State Government to undertake the East West Link Project is a good move that will improve the state of infrastructure in the City of Melbourne.
  • Pages: 10
  • Words: 2833

Economic Factors on the Stock Market

The proponents of the integration approach peg their arguments on the capacity of international factors to be crucial in influencing returns on equities on the aspects of the equality of risk of premiums across all [...]
  • Pages: 8
  • Words: 2274

Third Sector Funding

These organizations focus on some of the critical sectors that are crucial to the growth of the economy. The significance of the third sector is better captured in the US where approximately 10% of the [...]
  • Pages: 7
  • Words: 2002

Microfinance in developing economies

Moreover, due to the fact that there are billions of the poor in the world, the efficiency and availability of these financial services should be approved for longer periods of time to insure their self-reliance.
  • Pages: 8
  • Words: 2209

Small Business Environment in Kenya

This study will also provide recommendations on how the country can improve its cons and take advantage of its pros to boost the growth of Small businesses The government of Kenya is currently involved in [...]
  • Pages: 10
  • Words: 2948

Stratified and Cluster Sampling

The overall aim of the article is to explore what factors are responsible for shifting oil demand in the global markets.
  • Pages: 5
  • Words: 1425

Duopoly and Unregulated Monopoly

Owing to the fact that the number of firms is small, there is often a significant degree of interdependence between the firms.
  • Pages: 2
  • Words: 558

The Invisible Hand

The invisible hand therefore, is natural equilibrating component of the market, which provides a middle ground between producers and consumers with regard to their welfare. The invisible hand is mandated with the task of equilibrating [...]
  • Pages: 2
  • Words: 607

Market Value Concept from an Economic Perspective

However, in regard to the argument presented by neoclassical economists, the value of any product is correlated to its price in relation to the free and competitive market. And the value is thus determined by [...]
  • Pages: 5
  • Words: 1439

Monopoly Profits

First are the natural monopolies which occur due to the fact that only the firm is able to access resources used in the production of the final product. Therefore, the equation TR=P*Q is represented by [...]
  • Pages: 4
  • Words: 534

Retirement and its effect on the Economy

Principally those economic problems that the article highlights as arising from the effects of delayed retirement common to the experience of the United States problems, which the article's twin author's correctly point out somewhat unique [...]
  • Pages: 2
  • Words: 691