According to the principles of microeconomics market structures can be identified as perfect competition, oligopoly or monopoly. In our society today and the way business is conducted, market structures are not strictly defined by on of these particular types. They can be composed of a mix of them. A market structure that has a higher level of competition can be more efficient than those that […]

Abstract Apple entered the Smartphone market in June 2007 with the launch of basic 4GB and 8GB iPhone. Since then iPhone has revolutionized the Smartphone market and redefined the concept of satisfying consumer needs. Apple has been launching new versions of its successful iPhone and grabbing higher market share from its competitors. This paper looks at Apple iPhone from the microeconomic perspectives. It tracks down […]

Chapter 1 The Art and Science of Economic Analysis INTRODUCTION THIS CHAPTER HAS TWO PURPOSES: TO INTRODUCE STUDENTS TO SOME OF THE BASIC LANGUAGE OF ECONOMICS AND TO STIMULATE STUDENT INTEREST IN THE SUBJECT. IT CONVEYS TO STUDENTS THAT ECONOMICS IS NOT ONLY FOUND IN THE FINANCIAL SECTION OF THE NEWSPAPER, BUT ALSO IS VERY MUCH A PART OF THEIR EVERYDAY LIVES. BEGINNING WITH THE […]

Casino is equal to all kinds of gambling properties or activities including horse- racing, dog-racing and cruise ships. Nowadays, there are about 6,224 casinos in the world. The most popular casino must be the one in Lass Vegas. Besides, Cathy H. C. Has points that gambling has existed in Asia for many centuries and gambling has become part of daily life in many Asian cultures […]

The perfect definition of a purely competitive market in microeconomics states that there should be specific factors which must be followed in order to guarantee that firms who are participating in the business for companies which are moving in the markets do not have control of prices.  Such factors are easy transportation, perfect communication, and a host of many other variables. However, practicing the most […]

Over a hundred thousand Jobs the U. S. Economy has created in the past ten months. It is still below the two hundred thousand needed to drastically bring down the unemployment rate, which is around eight percent. The positive we have is income and consumption and GAP growth, but it is still growing below trend rates. The housing market still shows little to no sign […]

Microeconomics (from Greek prefix micro- meaning “small” and economics) is a branch of economics that studies the behavior of individuals and small impacting players in making decisions on the allocation of limited resources (see scarcity). [l] Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, […]

Nicholas Benyola Professor Mansourian Econ 201- 25 17 May 2012 Microeconomics Research Paper Minimum Wage In the United States, minimum wage has remained at a low number for several years. Minimum wage is defined as the lowest possible income that an employer can legally pay an employee. This ensures that all people are fairly paid and not defrauded by companies or businesses. Minimum wage is […]

Sass Koran Proof. Nominal Islam 7th Feb., 2015 Intermediate Microeconomics PEEP-3100 Home Work -1 1 . Suppose a teenager has $20 and likes both rap music (R) and country music (C) with a set of preferences so that U = CLC /ERR/2. Suppose that the tunes price of a rap music song is and the price of a country music song is. Find optimum levels […]

At what level of L do diminishing total returns begin? PM = OIL – AL. Marginal product peaks when L = 5 and equals zero when L = 10. Thus, diminishing marginal returns begin when L = 5, and diminishing returns begin when L = 10. Part B: True-false questions [3 points each] Note: Use diagrams and/or equations to explain your answer. ALL answer points […]