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Papers On Economics And Economic Theory
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Supply and Demand Questions
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A 3 page paper answering 4 questions about supply and demand, including price elasticities, price controls and the effects of designation of a product as a necessity. Bibliography lists 2 sources.
Filename: KSeconSupDemQ.rtf

Supply and Demand Questions
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This 5 page paper looks at 3 questions set by the student. The first looks at how the determine the change in demand when the old and new price and the level of elasticity are known, what is meant by the term ‘social costs’ and how economies of scale are realized. The second part looks at supply and demand and how this can be shown in graphs with the price shown by the point of equilibrium and how a drop in demand will impact on the market in the short and long term. The third question looks at why there has been an increased demand for bikes in London following the terrorist attacks and the impact of indifference curves.
Filename: TEsupdques1.rtf

Supply and Demand Questions
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A 7 page answer to 5 questions on supply and demand, equilibrium price and price elasticity. The paper also addresses questions on comparative vs. absolute advantage, as well as opportunity costs of production. Includes 2 diagrams. Bibliography lists 3 sources.
Filename: KSsupDeQu.wps

Supply and Demand's Effect at the Pump
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A 5 page paper discussing the effect of the law of supply and demand on gas prices, as well as price elasticities. Gas is a rather inelastic product in that it is seen as a necessity and to date there are no ready substitutes for it, so it is not as directly affected by the effects of supply, demand and price. World oil prices continue to increase as China continues to industrialize; refinery problems in the US in 2007 further contribute to increasing prices at the pump. Includes 2 charts. Bibliography lists 4 sources.
Filename: KSeconGasPr2.rtf

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