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Essay / Research Paper Abstract
21 pages. This is an informative paper for those in economics who need information on basic economic principles. There are ten economics essays here that explains various economic principles in comprehensive detail. Information includes the price and output of supply and demand, what unique situation causes price NOT to drop when supply exceeds demand, the nature of monopolies, the perfect competition model, income margins, labor output, mergers and acquisitions, the Bertrand price competition and Cournot duopoly. Several graphs and many examples are included.
Page Count:
21 pages (~225 words per page)
File: D0_JGAeconm.doc
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Unformatted sample text from the term paper:
surmised that the demand for tea would increase sharply. This could affect the price and output consequences in both the short and long runs. In examining the aspects
of supply and demand, we find the following equation to hold true: D = a - bP and S = c + dP in which D equals the quantity
demanded, S equals the quantity supplied, P equals the price per unit and a, b, c and d are constants. Now, when given a value for the price, the
quantity supplied and the quantity demanded can be found by inserting the value for P (price per unit) into the equations, solving for D (demand) and S (supply). Looking
at this model in the direct context of the above mentioned tea industry, there are several factors to be considered. In these examples, the characteristics of the tea industry
itself must be considered. The tea that appears on almost every table in the country around the globe comes from the same plant, the Camellia sinensis. All tea is
grown on tea estates or tea gardens, and the plant is extremely adaptable, growing equally well in sand or in clay, at sea level or at 8,000 feet, light rainfall
or heavy. Taking these facts into consideration, then, we can deduce the following: In the short run, there are price and output consequences to be considered in the event
that tea demand increases due to the current health trend. By examining the equation above, we find that price can be determined based on the quantity supplied and the
quantity demanded. On the same note, the quantity supplied can be determined by looking at the price and the quantity demanded. The first thing we should notice here
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