Supply and Demand

Beef and Substitute Items

What was the impact of mad cow disease on the supply and demand for beef? The demand for beef remained strong. Chain restaurants reported no change in sales of beef. As a matter of fact, most customers who ate beef at restaurants didn’t even ask any questions about where the beef came from. The top […]

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Supply and Demand

In this case there were many examples of microeconomics, primarily the demand for two bedroom apartments and condominiums. The impacts and decisions that Goodlife made in response to the people’s demand is an example of microeconomics. Micro looks specifically on how a company can increase their profit to remain competitive in the market. The changes […]

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Price Elasticity of Demand

Corn, a national commodity, to some might be considered the miracle crop. It is not only a food source for humans but for livestock as well. Corn production, especially as a renewable source of energy, holds much promise and places hope that this once dwindling cash crop might bring new financial returns and sustainability to […]

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Chairman Speech in Share Holders Meet

My dear shareholders, ladies and gentlemen: I am very happy to see you all at our fifty-first Annual General Meeting. I trust all of you are pleased with the results for the year ended March 2011 and our recommendation for a dividend at the rate of 400% or 40 per share. Those of you who […]

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Supply and demand

The supply and demand model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase (that is, right-shift) in demand from D1 to D2 along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S). […]

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Supply and demand

After I was finished with this exercise, where I experienced firsthand the supply and demand game, in which terms of microeconomics and macroeconomics were used to determine the different situations, such as the economy as whole in this small town called Atlantis, as well the increase of higher income jobs available for the town. It […]

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Economic equilibrium

Exercise 1.  Microeconomic Issue: “Everyone’s Gasoline Problem” The average price for regular gasoline in Atlanta, GA is $3.572. Compared to this same time last month, the average price in Atlanta has decreased about 13 cents; from a year ago, prices have decreased by 15 cents. Gas prices are like rollercoasters – they go up, then […]

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