Microeconomics Essay Topics

Chip monopoly

The structure of the market in any industry is important. Which market structure is the best is dependent on whether you are the consumer or the provider of the goods or services. In a monopolistically competitive market place there are many firms providing homogenous products meaning there are similar substitutes available which also means the… View Article

Monopoly – economics

In this chapter, look for the answers to these questions: ? Why do monopolies arise? ? Why is MR < P for a monopolist? ? How do monopolies choose their P and Q? ? How do monopolies affect society’s well-being? ? What can the government do about monopolies? ? What is price discrimination? Economics PRINCIPLES… View Article

Microeconomics and Macroeconomics

Microeconomics is a branch of economics which deals with the study of resource allocation decisions within the confines of the sub-segments of an economy such as households and business firms (Arnold, 2010). Central to this study is an examination of how prices of goods and services in a market influence their demand and supply. Macroeconomics… View Article

Introduction to Macroeconomic Analysis

(a) Explain the meaning of a production possibilities curve. (b) What is assumed to be constant when we draw that curve? (c) How is a point on the curve different from (1) a point inside the curve or (2) a point outside the curve? (d) How does this curve illustrate the concept of opportunity cost?… View Article

Price Guarantee

Introduction Price guarantees have become a popular promotional tool for attracting new customers or selling new products to existing customers. Many business organizations are now adopting the price guarantee concept in their pricing policies. Most notable among them is Walmart. General implications of price guarantees Price guarantees can take two forms. One is price matching… View Article

The amount of profit

In business there are certain factors that have to be evaluated before a company can see if a profit has been made. To even get to the point where a profit will be made there has to be a product that is sold whether it is a tangible or an intangible product. There has to… View Article

Factors That Shift the Ppc

In economics, the Production Possibility Curve (PPC) is based under the field of macroeconomics. The production possibility curve (PPC) is also termed as the production possibility frontier (PPF), a production possibility boundary or sometimes called product transformation curve. It is defined as a curve that illustrates the possibility of producing two goods or services within… View Article

Supply and Demand

Chapter 3—Supply and Demand Question 1. Draw a demand curve with an equilibrium price and quantity, show what happens on your diagram when each of the following events occurs. Explain whether each of the following events represents a (i) shift of the demand curve or (ii) a movement along the demand curve. (a) A store… View Article

Individual Paper

As discussed in week 1; understanding market equilibrium and how to maintain market equilibrium is essential for all business leaders. Market equilibrium is the point at which the demand of the consumers is equal to the supply of the producers. The goal of all organizations is to ensure their output is at market equilibrium, therefore… View Article

The Marketing Aspect

The Marketing Aspect is said to be the lifeblood of all feasibility studies. It makes a big impact on the study because it serves as the basis for the proponents to have a clear picture whether to pursue the business or not. It will determine the factors to be considered in establishing and coming up… View Article

Econ Problem Set

1) Describe the effects on output and welfare if the government regulates a monopoly so that it may not charge a price above p, which lies between the unregulated monopoly price and the optimally regulate price (determined by the intersection of the firm’s marginal cost and the market demand curve). As usual, the monopoly determines… View Article

Microeconomics about Fresh Water Supply

Scarcity of fresh water is emerging as the most critical resource issue which world is facing in recent years. The signs of a shrinking water supply can be seen worldwide. Many restaurants no longer provide a free glass of water to diners and cities restrict its use for private pools and gardens. The supply of… View Article

Cumberland Metal Industries

I.BACKGROUND CMI has developed a new technology using curled metal to create pile driving pads. Compared to existing products on the market, these pad offer several benefits: •Faster pile driving saves contractors rental fees, labor expense , and spreads overhead over more feet driven in a given period of time •Longer life of pads save… View Article

Price Elasticity to Identify a Brand’s Competitors

Firms today are in their perspective industries to maximize consumer satisfaction, increase revenue, and shareholders profits. These tasks require attention to detail when pricing their products. There are always competitors lurking and waiting by the wayside to gain market share and a competitive advantage. When identifying brands competitors, price elasticity is a major determinant. Demand… View Article

Economies of Scale

Definition Reduction in long-run average and marginal costs, due to increase in size of an operating unit (a factory or plant, for example). Economics of scale can be internal to a firm (cost reduction due to technological and management factors) or external (cost reduction due to the effect of technology in an industry). Diseconomies of… View Article