Microeconomics Essay Examples and Topics. Page 3
The difference in elasticity is caused by the variations in the level of demand for different products. Economists say that the higher the rate of elasticity, the lower the market for the product when the [...]
Market Basics This refers to the factors that do influence the decision of a buyer when he or she is in the market.
The lowest average total cost that a business can incur is at the point of the curve where the line extending from the origin forms a tangent to the curve.
The payment of the lease does not only cover the cost of using the car but also the depreciation that comes about as a result of using the car.
All organizations do have a basis of management that give each of the participant a role in the running of the affairs in order to hit the set objectives.
The equilibrium price is the price that both the buyer and the supplier agree in exchange for goods or services offered by the suppliers.
The other importance of analyzing the costs of a firm is to be able to track, monitor and set the desired level of productivity that will ensure that it makes the targeted profit margins.
Judging from the above, the farmers are likely to increase prices on corn because of the demand on the products made from corn ethanol and corn flakes.
The impact of the strategy of price discrimination between the residents and visitors on social efficiency cannot be understood, since the strategy generally leads to higher prices for the visitors and lower prices for the [...]
Demand is defined as the willingness of the customer to buy a product at a particular price and the law of demand states that the higher the price, the lower the demand and the lower [...]
Demand Side The rise in the cases of diabetes, has led to a rise in demand of endocrinology services in the US.
The economic effects of HIV/AIDS are profound especially in Africa a continent that lacks the capacity and ability to deal with the pandemic due to economic constraints.
If an industry comprises of small size firms in relation to the size of the industry, this form is a fragmented industry.
As the number of ice-cream manufacturers increases, Baskin Robbins will have to reduce the supply of ice-cream products and focus on selling and marketing the most competitive product varieties. Lower taxes and new technologies will [...]
The quantity supplied of labor directly depends upon changes in salaries: the higher the wage the more labor is supplied to the market.
When the prices of oil priced in the united states dollar goes up, oil companies in Canada receive more United States dollars and in view of the fact that many bills like paying human resources [...]
This means that if the demand of a given commodity is high and the supply of that commodity is not adequate to meet the market needs, then the cost of that item will rise.
This will mean that its net effect on the market will be negative and supply will be decreased and the supply curve will decrease hence causing the supply curve to shift towards left resulting to [...]
Dornbusch and Fischer, in the book 'Macroeconomics', introduces macroeconomics as a subject that "is concerned with the behavior of the economy as a whole with booms and recessions, the economy's total output of goods and [...]
This is a summary of the article "The Effect of Customer Value, Customer Satisfaction, and Switching Costs on Customer Loyalty: An Empirical Study of Hypermarkets in Taiwan, by the authors Tsai, Ming-Tien; Tsai, Chung-Lin; Chang, [...]
These are: a) competitors that cannot dictate prices; b) access to labour and capital; 3) the customers must know about the prices and the products that are available in the market; and 4) producers must [...]
The article starts with a hypothetical introduction, where the writer engages the reader by telling him/her to assume that the stimulus signed in 2009 was large enough to impact the job market or even money [...]
Potatoes Chickens Michelle 200 50 James 80 40 Michelle's opportunity cost of producing potatoes From the definition of opportunity cost, Michelle's opportunity cost of producing 200 pounds of potatoes is 50 chickens.
In conclusion, supply and demand relationship tries to describe macroeconomic variables like price levels and amount of quantity in the economy.
To start with, economy of scale is a concept that mainly applies to the production of goods or services, or any other activities that a firm engages. Thus, in order to determine the economies of [...]
The total cost of a firm is a sum of total fixed costs and total variable costs. Marginal cost on the other hand refers to the difference in total costs when quantity of goods produced [...]
In addition to that, scarcity of services and products offered by the hotel industry in various markets, microeconomic issues such as consumer behavior and income level, efficient allocation of resources particularly investment capital, absolute advantage [...]
According to allocative efficiency theory, for a perfect competition to occur, there must be optimal distribution of goods and services, the consumers have a wide variety of choice to level that price equals the Marginal [...]