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Supply and demand

Shortage- Not enough of a product from the suppliers. Shortages cause the price of a good to rise Surplus- Too much of a product that a buyer does not want. This will cause the price to drop. “In the corn Market, Demand often exceeds supply and supply sometimes exceeds demand. ” * Demand Often exceeds […]

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Evolution of Monopolistic Competitive Market

In this paper I will reflect the evolution of the monopolistically competitive market and by doing so guiding the concept with an insight of the Mp3 player market and its actors. One of the actors on the Mp3 market is the IPod created by the innovating company Apple. The IPod was realised in March 2004 […]

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Price Elasticity

Rising oil prices in the US are not a novel concept. Since the 1970’s when the US realized its vulnerability related to oil and its Eastern providers, we have sought energy alternatives (recession. org). This essay will review the concepts of supply, demand, quantity demand and price influence given the provided scenario wherein the demand […]

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