Basic Microeconomics Case Study

Definition:

Microeconomics is the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues. Case Study Help Provides Microeconomics Assignment Help and Economics Assignment Help by Experts at Best Price.

 

Description

The microeconomic study deals with what choices people make, what factors influence their choices and how their decisions affect the goods markets by affecting the price, supply and demand.

 

Indicate which type of market can be characterized by the following features:

___________a). consumer choice of products

___________b). need for advertising

___________c). extraordinary profit even in the long-run

___________d). firm determine his own price

___________e). use of non-price competition

___________d). easy entry into the market

___________e). product sold maybe homogeneous or differentiated

___________f). firm has little power to control price