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Essay / Research Paper Abstract
This 7 page paper uses a printed news article to illustrate microeconomics at work. The paper looks at an article from Business Week that predicts a new supplier in the telephony industry will cause prices to drop. This is used to show how supply, demand and elasticity are reflected in the article, the presence of a price floor and ceiling and the importance of organising production and costs. The bibliography cites 2 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEeasymob.rtf
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Unformatted sample text from the term paper:
we are going to use is by Rachel Tiplady and published in the 4th April 2005 edition of Business Week, entitled "Will Cheap Cell Calls Rock The Industry? The launch
of no-frills easyMobile threatens to spark a painful price war". This article looks at the business model developed by Stelios Haji-Ioannou with companies such as easyJet, where sales prices
are kept low by offering a basic service and the aim of gaining customers who want to save money, and also aiming for economies of scale with services well utilised.
The article tells the tail of a new mobile telephone service launch in March 2005 in the UK call easyMobile, based on the same principle and inspired by an article
about Telmore, a Danish no fills mobile operator. Supply, Demand and Elasticity The article is speculating that this event may, in the long term bring down all the prices
of mobile telephone calls in the UK. This is an application of the basic laws of supply and demand and also explains why this was an attractive industry and how
then prices may change. This is a very basic model to begin with. Where there is a demand that exceeds supply the price of the goods will increase until
there the price puts a sufficient number of people off, and the purchase is made. There may also be the attraction of increased suppliers to supply this market where prices
obtained are good. In turn this will also increase the supply and lessen the demand surplus. When the converse is true, and
the supply exceeds the demand, the price will then drop, dropping to a level where it is able to attract sufficient customers to make the purchase attractive and create delirium
...