Microeconomics Assignment Help UK

Key Topics of Microeconomics We Help With

Supply and demand 

Supply and demand is an essential concept of microeconomics where demand refers to the willingness of a consumer to purchase a good or service. Economics mentions a very strong law of Supply and demand where the law states that when the price of a good or service increases, the demand drops and when the demand increases, the prices automatically increase all because of the low supply but high demand of that product.

Now, supply refers to the seller’s willingness to sell their goods or services with the diverse price ranges in the market. The consumer and seller behaviours manipulate the market and vice versa.

There is also an important term named Equibilarium Price, this condition comes when the number of demand matches the number of supplies. 

Elasticity 

Price elasticity of the demand: The elasticity measures the quick responsive sensitivity of any demand according to the price. Here it means some of the products and services are very sensitive to price manipulation means that they will quickly react if the demand slightly increases, then the price will also quickly get a hike. 

The products that suffer this swift reaction are the elastic products, which don’t come under inelastic products. 

Consumer and producer behaviour

UTILITY: The best satisfactory behaviour for most consumers is maximising their utilities. A customer will always prefer the piece of product which serves them more. This is the rule of utility that the suppliers need to know to run their business efficiently. 

Cost of production: cost of production alludes to the total cost a firm has to incur in the manufacturing of items. A manufacturer always aims to make a higher profit than their total cost of manufacture. 

Market structure 

• Market structure points to the organizational features and competitive dynamics of the market. 
• The market structure describes the firm’s competency behaviour in the rivalrous market and the nature of the selling of products. 
• Structures shape the market behaviours of the big companies and manipulate their prices, outcomes, quality and so on. 
• The structures contain these base factors that form the market structure: 

Perfect competition 

• When there are several sellers and buyers for a similar product, they hold complete knowledge of their selling, and they hold complete independence to enter or leave the market as a competitor then this situation is known as perfect competition. 

Monopoly 

• Monopoly is when there is only a single service provider to aid any particular facility, they get the freedom to sell their supplies at their whimsical prices, neglecting the purchaser’s affording capacity.  
• In this case, there are usually no vendor supplying their articles with even any close features in short, there is no substitute for that exact supply. 
• Due to this problem, the buyer has to forcibly purchase these articles at high prices to satisfy their needs. 

Monopolistic competition 

• • In this situation, the market contains many corporations offering the same quality of product with slightly differentiated features and prices. 
  • There is usually a rivalrous competition between the companies to make their sales. 
  • They have to engage in activities such as advertisements to differentiate their offering things from the rest of the others. 
  • They do not possess the freedom to set their whimsical prices to remain in the competition.

• Oligopoly

• Term oligopoly states the marketplace condition where majorly large firms take over a specific field.
• The entrance of the new market entrants in that specific field might be challenging.
• The firms face tough interdependencies which cause them to face the actionable influences on each other’s steps. In the short term, if one increases their prices to gain more profits then others can get influenced by it and they also take actionable steps to increase their profits either via increasing their product costs or by dropping their prices to engage more customers. 

Cost and revenues  

This refers to the firm’s incurred prices on the manufacturings and erne profits on their sells. The costs and revenues have a direct impact on the business’s decision of the furthermore production regarding an article.

If the commodity makes a good trade in the marketplace then sellers will increase its production and advertisement to increase and hike up their earnings. But if it does not make a good revenue according to their costs then, discontinuation of that article would be the most probable response of the sellers.           

Challenges In Writing Microeconomics Assignments

There can be several difficulties that one might have to face, some of those are as follows: 

Understanding The Complex Concept : 

The complexity and vastness of this subject make the writing of microeconomics assignments a tough nut to crack. The practical application of the integrated theories and model can annoy someone to an end. The interrelation of these models and theories plays a major role in hindering the writer’s perseverance in drafting the paper all by themself and can leave them exhausted, annoyed and hopeless. (that is why Student Assignment Help is here for you ;).

Critical Mathematical Calculations

Economics contains the major mathematical calculations and formulas. To calculate the elasticity, marginal analysis, cost functions etc. these calculations often increase the complexity of assignment writing. And it can become an exhausting and arduous hurdle for students who are not comfortable with math calculations. 

Well Structured Assignment Organisation 

Most of the students lack the proper organisation of their thoughts and the study material which might confuse the evaluator and interrupt the process of your message delivery. The evaluator may not understand the proper message that you are trying to deliver through your essay. This can result you in getting lowered marks than expected which can affect your performance record.  

Balance Of The Appropriate Depth Simplicity 

We all are completely aware of the depth required during crafting an assignment. But the assignment writing also needs simplicity in your message conveyance with a formal touch. The assessor should be amazed by the in-depth and well-organized research along with that your formal expressions of words should be reflected. This is usually a tough task for any student cuz at some point they have to give up because of the lack of formal English writing or due to the dearth of research and analytical skills or expression skills.

Critical Thinking And Analysis  

This is such a daunting part of crafting an assignment as microeconomics requires more than just an explanation of the thoughts. This is a practical subject due to which, the essay might demand you to analyse the data with a strict and on-point criticism of theories and certain impact of the models on the market with diverse conditions. This requires deeper thinking and reasoning skills from a writer to draw a compelling piece of writing. 

Proper citations of reliable sources 

The practical components of this subject demand the students to add credible sources of the theories. While sketching the examples or outlining the impacts of certain theories on some examples, this is a compulsion to cite references from credible sources. Many times the sources become outdated because of the continuous relevant discoveries but in that case, if a student uses irrelevant references or does not use proper references to support their examples and theories, this can affect them horribly and even result in the exam failure. 

Why Microeconomics Assignment Help Is Essential

To fight all those above-stated situations a student should opt for the assignment help assistance. They get complete relief from researching writing and then organising the material. With the help of writing experts, you can get a very well-researched essay or project, compelled with deep and great insights into the essay subject. By hiring a writer you get relief from all the writing work which gives you the freedom to invest your time in your other learnings.

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