Category: Microeconomics

Microeconomics Case Analyses in Pharmacology Governments generally want people to get immunised against the flu and other diseases such as COVID-19. Nonetheless many people refuse to take the vaccination jab, because they overestimate the likelihood of side effects, because they are complacent about getting infected. They also might not care or understand that their immunity…

Microeconomics Principles: Production, Costs and Profits Table of Contents Benefits of Economies of scale Disadvantages of being part of a large corporation Long-run profit in a Competitive market References Benefits of Economies of scale A franchise firm is big company which means that their cost of every unit sold or produced is lower and this…

Microeconomics: Government and Market Relations Critiquing government policies and attempting to create one that will bring success are two different activities. While one can say that government failures are worse than the market ones, it is clear that both of them can significantly impact peoples lives. However, states governments control many factors that contribute to…

Microeconomic Tools: Cost-Benefit Analysis Introduction Microeconomics is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources typically in markets where goods and services are being bought and sold. It examines how this decision behavior affects the supply and demand for goods and services, which determine prices, in…

Microeconomics and Principles of Economics When coming up with a successful business initiative, it is of paramount importance to remember that every economic endeavor cannot exist in isolation from socio-political and purely economic factors. For this reason, in order to define the prospects of ones business, entrepreneurs should become aware of the value of microeconomics…

The US-China Trade War: Microeconomics Principles Economics is a discipline that may be divided into two major categories, including macroeconomics and microeconomics. While macroeconomics addresses economic-related decisions made by governments and countries, microeconomics studies business decisions that affect individuals behavior in relation to supply and demand. However, even though macroeconomics and microeconomics refer to different…

How the Pearl Industry Causes Microeconomic Shifts Introduction Research Question: How does the pearl industry cause shifts in demand and supply, demand elasticity, and externality in Australia? Pearls are found in mollusks or oysters, and they are grown in limited areas of the ocean. They exist in different colors and shapes, and their prices are…

Microeconomic Analysis of Australian Oil Market Table of Contents Introduction Concepts and Model Analysis Conclusion Bibliography Introduction The rise in the price of gasoline is a widely discussed topic in Australia. This market affects and significantly affects the lives of both end consumers and at larger and larger levels of the economy. Since the Morrisson…

Microeconomic Analysis: Walmart Table of Contents Production and Costs Key Inputs and Fixed and Variable Costs Factors Influencing the Choice of Inputs Optimal Production Decisions Final Project Market Structure Impact of the Market Structure on Equates Financial Performance Impacts of Possible Changes in the Industrys Market Structure Summary References Production and Costs The Walmart-branded Equate…

Microeconomics: Scarcity and Social Provisioning Table of Contents Introduction Circular Flow Diagram Three Segment, Three Markets Analysis Product, Resource, and Financial Markets Sectors Interaction in the Market Economic Implications Benefits of International Trading Micro and Macro Economics Conclusion References Introduction At its core, economics deals with peoples decisions to sustain the scarce amenities available to…