C/E/148. Explain the determination of the firm's average cost curve in (a) the short run and (b) the long run

The work shows how the marginal costs affect the profits of the firm in the short and long run, according to the neoclassical theory. Other concepts such as average cost, labour productivity and the economies/diseconomies of scale are discussed. The work is supported by diagrams.

C/E/147. Nestle and L'Oreal Joint Venture Case Study: Managerial Economics

The report has been aimed at producing economic analysis for two different cases of Nestle. The first case deals with the joint venture product with L'Oreal i.e. Innevo Firmness, which is aimed to improve skin tone of older people and has the competitive advantage based on new skin ingredient, Lycopene. The short term Total Cost (TC) function is given and a step by step calculation along with explanation for Fixed Cost (FC), Average Total Cost (ATC), Total Variable Cost (TVC), Average Variable Cost (AVC) and Marginal Cost (MC) has been provided. The dynamics of MC curve and AVC curve has also been explained in depth. The second case study deals with the purchasing decision of Prolan, a cat food brand by Nestle. The project appraisal techniques like After Tax Net Flow (NCF), Net Present Value (NPV) and Internal Rate of Return (IRR) have been used.

C/E/142. The effect of free bus travel for the pensioners and the disabled on the demand for train journeys, taxis and tourist attractions

The work discusses the effect of free bus travel for the pensioners and the disabled on the demand for train journeys, taxis and tourist attractions. The concept of the opportunity cost is discussed, and the alternatives of the taxpayers' money are provided. The work then evaluates the pros and cons of this policy and a conclusion is reached.

E/E/33. Information asymmetry and how to reduce it

The paper examines the features of the perfect market discussing the notion of information asymmetry (IA), supplier quality assurance (SQA), and the ways of IA reduction.

S/E/60. Prisoners Dilemma within ‘duopolic markets. With reference to examples with which you are familiar, evaluate the extent to which behaviour in duopoly markets can be explained by the prisoners dilemma game and assess the impact of repeating this game upon an organisations behaviour.

The paper looks at the popular model of Game Theory- The Prisoners Dilemma – and accesses its use in explaining the behaviour of the key players in a duopolic marketplace. An attempt has been made to observe real-world examples in various fields (technology to cola). While the actions and reactions of the firms may have evolved based on intuition and/or basic business principles, it is realised that the Prisoners Dilemma model succeeds in satisfactorily explaining the behaviour of the firms. This also implies that managers that have a basic knowledge of the Game Theory can possess a unique edge over their competitors.

C/E/75. Microeconomic Analysis of J Sainsbury's Local store in Oxford Street

This report gives the analysis of Sainsbury's Local store in Oxford Street, and considers its performance from a microeconomics perspective, with emphasis given to the store's costs structure, competition levels, demand and supply sides, and price elasticity. The author also presents three economic problems faced by the store (supported by data) with the likely solutions and business strategies to overcome these problems.

P/E/169. O2: Pricing Policy

The paper analyses the different mobile phone tariffs offered by the mobile phone Company O2

P/E/138. What theoretical and econometric problems arise for economists when estimating the marginal returns to educational investments?

This essay analyses what theoretical and econometric problems arise for economists when estimating the marginal returns to educational investments.

C/E/20. Using the examples of rent controls or agricultural price support policies (or both); discuss whether such government interventions in markets generally have the intended consequences.

C/E/28 Economics and Leisure Tourism: Intercontinental Hotel

Conclusion Despite the Middle East crisis there is a huge potential, which is, however, not fully developed at the moment. The analysis of the financial statements of the company has shown that in the long-term perspective company might offer an outstanding market performance (Infotrac.galegroup.com). The longest since the Second World War, market had a devastating effect on the company's performance. Lack of investors' confidence has resulted in the current poor stock performance. This is justified by the losses that a Hotel division of the company has made over the previous year. Unfortunately, the management of the company seeks the remedy for the current problems in the restructuring and separation of the Group. The future structure, its new perspective potentials, and implications of the future company's strategy is not set yet.

C/E/35. Industrial Economics. Discuss which of the theories of advertising imply a cause-and-effective relationship between advertising and prices explaining how it arises and whether it is a negative or a positive one. Also explain which, if any, theory (or theories) does not imply a cause-and-effective relationship between these two variables and why.

Conclusion Therefore a number of theories imply a causal relationship between advertisement and prices, both negative and positive and backed by a number of hypotheses. Also a number of theories about advertisement look at explaining variation in advertisement across different sectors and its relation to market concentration, and imply no direct causal relationship between advertisement and price. Instead, whatever relationship can be inferred from these theories is spurious.

C/E/34. "BOTH HORIZONTAL AND VERTICAL BOUNDARIES OF FIRMS DIFFER ACROSS INDUSTRIES AND ACROSS FIRMS WITHIN THEM". EXPLAIN AND DISCUSS THIS STATEMENT.

The production function of a firm and the legal environment in which it operates jointly determine both vertical and horizontal boundaries of a firm. These two major determinates aggregate a number of separate factors, variable across industries and firms within those industries. Therefore variation in the boundaries of firms both across and within industries is to be expected. Factors affecting the choice between vertical and market organisation may be aggregated into technical and agency efficiency. There are natural tradeoffs between the two, different across industries. Thus industries with larger volume of production and greater and greater complexity and specificity of their products are likely to be more vertically integrated than industries which operate with smaller quantities or simpler products. Evidence gathered on several American industries supports this hypothesis.

S/E/17. The Rational Expectations Theory & the Misperceptions Model of the Business Cycle

The misperceptions model of the business cycle suggests that unpredictable movements in variables that affect aggregate demand cause movements in aggregate output in the same direction, whereas predictable movements do not. This essay will draw on the Lucas 'Island' model to demonstrate why imperfect information allows unpredictable shocks to fool rational suppliers into altering output. To do this, the analysis will compare and contrast changes in aggregate and relative prices.

P/E/56. Discuss the following statement: "The process of natural selection helps to validate the hypothesis, or, rather, given natural selection, acceptance of the hypothesis can be based largely on the judgment that it summarizes appropriately the conditions for survival" (Friedman, M. 1953)

C/E/36. Economics questions.

This paper consists of several questions, which was necessary to answer using graphs and diagrams: Explain, with diagrams, Price Elasticity of Demand. How can it be used by businesses? Explain, with diagrams: Maximum price legislation and Minimum price legislation; Using a diagram, briefly explain the income and substitution effects on Indifference Curve Analysis; Briefly explain Economies of Scale; Draw and give definition of the Short Run Cost Curves.

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