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Microeconomics Essay Examples and Topics

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.

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, [...]

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 [...]

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 [...]

Market Structure and Its Four Types

There is also the monopolistic competition kind of market structure. Lastly, there is a perfect competition type of market structure.

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.

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 [...]

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 [...]

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 [...]

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.

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.

Floods, Technology and Price Ceiling in the Market

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 [...]

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 [...]

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 [...]

Welfare Department Assisting Low-Income Households

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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.

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 [...]

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.

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 [...]

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 [...]

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.

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.

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.

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 [...]

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 [...]

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 [...]

Microeconomics Principles: Theory and Policy

For example, the presence of central banks as a government institution facilitates the exchange of currency and this is of paramount importance to commercial relations.

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 [...]

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 [...]

Valero Energy Company: International Trade and Finance

Firstly, the elimination of tariffs may imply that foreign companies will have the incentive to enter the oil and gas industry due to reduced barriers to entry. The entry of foreign firms in the industry [...]

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.

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.

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 [...]

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.

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 [...]

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 [...]

Managerial Economics and Demand

Effective demand refers to the desire to buy, the willingness to pay, and the ability to pay for goods and services.

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.

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 [...]

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.

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.

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 [...]

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 [...]

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 [...]

The Costs and Benefits of Anti-Dumping Duty

First of all, this policy can strengthen the position of American manufacturing companies that cannot fight off the price competition of their Chinese counterparts.

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 [...]

Demand and Supply of Apple iPod

This study seeks to explore the demand and supply of Apple IPod through the use of the laws of demand and supply.

Tasmanian Forestry Industry

This report looks at the importance of this association to Australia in general and to the members of the communities living in the region where the forest is located.

The Role of Service industries in Economy

This is because products involve more of architectural designs that will be aimed at producing more and better products into the market while for service industries the innovation process has to do with intangible designs [...]

Elasticity of Demand

In this regard, price elasticity of demand is defined as the percentage change in demand for a given commodity due to unit change in price of the commodity.

Markets and Society

As a result, the performance of the market will be reflected on the performance of institutions, both in the private sector and the public sector.

City of Cleveland

Provision of funds to the people by the federal government will greatly help the residents of Cleveland city together with the economy of the country. The city of Cleveland is a famous city in America.

Math Modeling For Economics

The product demand and supply and price changes are dynamic aspects of the system and can be modeled through a differential equation with a constant solution referred to as the equilibrium of the equation.

Diminishing marginal returns

This is due to the fact that if more of the input is added to the production process, a maximum point is reached where any additional value of inputs will result in a decrease in [...]

Markets, Prices and Price Setting

The price of milk decreases In the event that the price of milk decreases, the demand will increase resulting in increase in the quantity demanded and the shift of demand curve to the right.

Microeconomic Analysis

The forces of demand and supply in the market determine the prevailing market price. This is because, at prices below the equilibrium price, the product looks unattractive to the producers.

Elasticity of Demand

In this case, the amount of income spent on university services is small, that is why an increase in fee charges by English University resulted in a fall in a demand for applicants.

Supply and Demand in U. A. E.

Although the supply seems to meet the demand, the demand is constantly increasing, and the property begins to be reduced in supply as a large number of investors purchase the property.

Economies of Scope and the Modern Technology

Speaking of the other sphere of economies of scope that are considered in the given paper, the one concerning the telecommunication issues, it is necessary to explain that in the given sphere, "the existence of [...]

Alter the Use of Input

Two factors that may influence the use of wood in the firm include government policies and the price of substitute input, which in this case is plastic. This will therefore make the price elasticity of [...]

How people make economic decisions

It basically is the application of economic principles on one hand by consumers and on the other producers that the forces of demand and supply are founded and hence a market economy.

The Demand and Supply of the Dollar

On the other hand, the price of the dollar is purely affected by the demand and supply aspects that are prevailing in the current market like what is happening now.

How People Make Economic Decisions

Principles of individual decision making entails the principle of tradeoffs, the principle of opportunity cost, the principle of rational margin and the principle of incentives The principle of trade-offs According to the principle, a decision [...]

Microcredit: A Tool for Poverty Alleviation

In recognition of the role that microfinance's can play in the eradication of poverty and hence the achievement of the Millennium Development Goals, The UN duped 2005 as the "year of microcredit".

Demand and supply

Usually the higher the prices the higher the supply as opposed to the law of demand. This is to increase the supply of the commodity to meet the demand at a higher price.

Economics, business and sugar in UK

The second one is a study of aggregate nature of the economy, and can be related to the factors that affect the economy as a whole.

Creating Improvements through Incentives

In order to deal with the problems in the stores with cases of inventory losses and theft, it would be necessary for the management to come up with ideal incentives to deal with this problem.

Understanding of Economics

Market Basics This refers to the factors that do influence the decision of a buyer when he or she is in the market.
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