Which website provides the best help with microeconomics assignment services?
Are you stranded with your microeconomics assignment? You do not have to go anywhere else. We are a renowned provider of the best help with microeconomics assignment services. We are associated with professionals who are acquainted with all the essential concepts of microeconomics:
What is microeconomics?
Microeconomics is a branch of economics that tries to explain the traits of decision-makers like households and individuals within the economy. It is quite different from macroeconomics, which studies the economy as an entity.
Fundamental concepts of microeconomics
Opportunity cost and choice: Microeconomics is founded on the notion of economic reasonability. In simple terms, we can say that decision-makers choose between scanty resources that have substitute uses. It is up to the producers to meet the customers' demand for goods and services. However, individuals can't get everything that they need from the economic system.
Price mechanism: One of the vital areas in the study of microeconomics involves trying to explain how prices are determined within the marketplace. Both the consumers and manufacturers initiate forces termed supply and demand. It is the interaction of these two important forces within the marketplace that controls the price mechanism.
Demand: Demand simply refers to the needs of the customers. Consumers discern the goods and services that they should possess. Many factors control demand. They include:
- The price of goods and services
- Price of alternative goods and services, and contingents
- Customers’ expectations
- Tastes and proclivity
The quantity of goods bought by consumers is inversely proportional to the price. This is the law of demand. In simple words, when the price is higher, fewer quantities of goods and services are demanded. This is often explained using the demand curve.
Supply: Supply means the number of goods and services sold in the marketplace by producers. The quantity demanded and the price can be delineated using the supply curve. This curve can also help us understand the association between the price and the number of goods and services supplied. The law of supply states that while other factors remain constant, as the price of goods and services increases, the quantity supplied by manufacturers will increase and vice-versa.
Elasticity and equilibrium: The elasticity concept measures the change in the quantity of goods and services demanded in relation to the price movement of that good or service. We say that a product is elastic if its demand changes more than proportionally when the price decreases or increases. Equilibrium on the other hand is a state in which all the economic forces are balanced. As a result, in the absence of external forces, economic variables always remain unchanged from their equilibrium values.
Do not suffer in silence with your microeconomics assignment. Ask for our assistance and have your paper prepared by an adept professional. Several students who have opted for our help now boast excellent grades. You too can get rid of all the deadline pressure and stress that result from microeconomics assignments. Place your order with us.
Can you do my microeconomics assignment based on marginal utility theory?
The concept of marginal utility theory is intricate. It is not surprising for students to ask themselves, “Where can I find someone to do my microeconomics assignment based on marginal utility theory?” Such students can find quick relief in our instant service. Marginal utility theory studies the satisfaction increase that consumers derive from consuming an extra unity of a commodity. To understand this theory we must first define these two terms:
- Utility: This is the idea that consumers get some level of satisfaction or happiness from consuming goods and services
- Marginal utility: This is the benefit of consuming an extra unit of a commodity
Utility is never constant. We often get a diminishing marginal utility. A straightforward way of measuring utility is to provide the utility monetary value. For example, if you would pay $1 for a piece of cake, then the utility is at least $1.
Allocative efficiency and marginal utility
Consider the graph above. When the quantity of consumption is at 4o, the price is 15 but the marginal cost is 6. In this example, the marginal utility is greater than the marginal cost. Meaning, there is underconsumption of the good and deadweight welfare loss. Allocative efficiency occurs when the marginal cost (MC) is equal to the marginal utility (MU). On the graph, the allocative efficiency is at output 70 and the price of 11.
Concepts associated with marginal utility
Consumer surplus: This can be defined as the excess of what a consumer is prepared to pay compared to what they pay
The optimum level of consumption: Optimum level of consumption of one good would be to consume its quantity to the point where marginal utility (MU) = Price.
Equi-Marginal principle: This principle states that customers strive to maximize the total utility from their incomes by consuming a combination of goods where:
Marginal Utility of Product A (MUa) /Marginal Utility of Product B (MUb)= Price of product A (Pa)/ Price of product B (Pb)
For example, in a restaurant chicken is sold at $2 while fries go for $1. The sensible thing to do will be to take a quantity of chicken where the marginal utility of chicken is twice the marginal utility of fries since chicken costs twice more than fries. A customer would buy less chicken to make sure that its marginal utility justifies the higher price.
We are also well-versed in other concepts of marginal utility like
- How demand curve associates with marginal utility
- Cardinal utility
- Ordinal utility
- Satisfaction of wants
No matter how poor you are in microeconomics, opting for our “complete my microeconomics assignment” service guarantees excellence. Do not let this golden opportunity pass you by. Reach out to us immediately with a simple message saying, “please write my microeconomics assignment. We will make sure that you submit impressive solutions within your deadline.
Stuck with an intricate isoquant and isocosts paper? Pay for microeconomics assignment solutions right here
We are the ultimate destination for students who are looking for a website where they can pay for microeconomics assignment solutions. Our economics stalwarts are here round the clock ready to lend you a helping hand with your intricate isoquant and isocosts paper. Worrying will not get your assignment done. Secure our remarkable service by typing the words, “I want to pay someone to do my microeconomics assignment.” Our customer support team will link you to a professional who specializes in this subject.
What are Isoquant and isocosts?
An isoquant is a combination of factors that leads to a certain output. An isocost on other hand highlights a combination of factors that cost the same. Both isocosts and isoquants are used to produce the optimal combination of factors of production that leads to the maximum output at a minimum cost.
The isoquant curve is usually concave-shaped because of the law of diminishing returns
Marginal rate of factor substitution: This is the amount of a given factor that can be replaced by one factor. For example, if three units of capital could be replaced by one factor of labor, then the marginal rate of factor substitution would be 2.
The concept of diminishing rate of substitution
To explain this concept, let us use the graph below:
In the graph, we can see that if we want to employ 2 laborers then we need 40 capital. Adding one extra laborer, then we would save 10K. However, at 9 laborers, we only save two capital if we hire an extra worker. This means that there is a diminishing rate at which we can substitute the other factor when we employ more workers.
Why should you pay us to do your microeconomics assignment?
Apart from writing your microeconomics assignment impeccably and delivering your solutions within the agreed period, there is a myriad of other benefits that come with paying for our microeconomics assignment help service:
- Student-friendly rates: Our prices are curtailed to suit your budget. No matter how convoluted your microeconomics assignment is, we assure you that the amount you will be charged will not make holes in your pocket.
- Discounts and customer bonuses: we have exciting discounts, seasonal offers, and customer bonuses for our loyal clients. Continue using our services repeatedly and you will be eligible for a jaw-dropping discount.
- Safe and secure payment methods: Our payment gateways are safe and secure. You do not have to worry about your credit information being leaked. It is your bank or PayPal that handles the entire transaction.
Nothing should keep you from acing your microeconomics assignment. Link up with us for a memorable service.
Take advantage of the expertise and knowledge of our microeconomics assignment helpers and secure the best grade
We have assembled a team of eminent microeconomics assignment helpers who are ready to carry your academic burden on your behalf. Our experts have earned the tag of the best microeconomics assignment doers because of their commitment and dedication. Our loyal clients know that we go above and beyond to make sure that their solutions are ready within the agreed time. You too should join the long list of our completely satisfied customers by hiring our experts. Although there are a plethora of agencies that claim to have the best microeconomics tutors, our platform stands out because of the following:
- Excellent assignment writing skills
We have confirmed this through rigorous tests and screenings. If you need proof, check out the sample microeconomics assignment samples and customer reviews that we have posted on our website
All microeconomics topics and concepts catered to
We boast experts who specialize in all the topics and concepts associated with microeconomics.
|Consumer and producer surplus||Consumer and producer theory||Production and costs concepts||Specialization and division of labor|
|Supply and demand||Positive and normative statement||Indifference curves and budget lines||Market structure ( perfect competition, oligopoly, monopoly)|
|Economies of scale||Welfare economics||Market intervention||Markets for factors of production|
|Labor markets imperfections||Equity and efficiency||Market equilibrium||Theory of distribution and factor pricing|
The list above is not an exhaustive one. Our microeconomics assignment writers are equal to any task related to this subject. Do not hesitate to get in touch with us whenever your microeconomics assignment is giving you a hard time.