Microeconomics is the arm of economics that deals with the tendencies of how an individual or a firm arrives at decisions to allot limited resources (Glazer and Hirshleifer, 56). (Glazer and Hirshleifer, 57). In the attached article on the influence of coal on production of…
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The first two months of the fourth quarter PAF was 95%. For the second and the third quarter the company recorded 83% and 85% respectively which was as a result of increased supply of coal from India. The steady supply of coal to meet demand will be facilitated by the signed agreement with India, to supply coal which will be fully completed by 2013.
The terms price, demand and supply have their application in the attached article. Supply is the quantity of goods that are available to clients. In the attached article, thermal power corporation effectiveness depends on the amount of coal supplied. Demand is the aspiration to have something for instance, the power produced will be in great demand when the plant availability factor is low, because of scarcity. Price on the other hand is the amount paid back for goods or services provided (Glazer and Hirshleifer, 68). In this case price will stabilize if the supply of coal will be guaranteed as a result of signed pact. Coal therefore is an important natural resource for power production in the economy and to the people who consumes it.
National Thermal Power Corporation or NTPC has shown higher capacity availability or plant availability factor during the first two months of the current quarter, indicating improved coal supply, according to data with the Central Electricity Authority.
This augurs well for the state-run company considering that the previous two quarters were not so good for it and earnings declined due to lack of coal availability. This led to concerns over capacity availability of its thermal plants, which is directly linked to availability of coal.
The plant availability factor or PAF of a plant is the maximum time that it can produce electricity over a given period and is mainly linked to fuel availability. Higher the availability of fuel, higher will be the PAF. NTPCs PAF for the first two months of the fourth quarter was 95%.
The company witnessed PAF of 83% and 85% for the
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The comparison is carried out between these two factors. In the ratio of Ann’s to peter’s case, Ann has a lower utility function than peter because peter is on medication. The amounts that peter will spend on medication makes him more vulnerable in spending.
Microeconomics is therefore the study of how firms, individual, and households allocate the resources at their disposal to satisfy their limitless and recurrent need. Since resources are limited, it is important for the consumers to rank their demands and wants in the order of preferences.
vaccinations against infectious diseases). Briefly suggest how government might intervene to correct this under-provision? 5 (C) The Consumer Price Index (CPI) is the official measure of inflation in the United Kingdom. Why might CPI not be an accurate measure of the costs of living for any given individual consumer?
Therefore the author has termed Google as being operating as a monopoly in the search market. The author refers that Google has been dominantly playing its role in the search market and is this dominance is favored by governments as they are not placing any restrictions on the practices adopted by Google.
Short run equilibrium of a firm can be derived based on the total revenue and total cost and marginal revenue and marginal cost and marginal revenue and marginal cost. As firms are price-takers, each firm in an industry tries to maximize its profit by adjusting the output to a level where Marginal Cost (MC) =Marginal Revenue (MR).
without making anybody else worse off.” From this rationale economists have deduced the conceptions of Pareto improvement and Pareto optimality which is otherwise know as Pareto efficiency. A condition is believed Pareto-optimal if it is not possible to make additional
s poor supply or low demand the biggest cause for concern in the contemporary housing market?” In answering the question, he points out that a part of the problem is due to the lack of enough buyers for homes in the US. This, he notes, is evident from the extremely low
Individual consumer’s focuses on maximizing their utility subject to their budget line (MagrabI, 1991). On the other hand, producer’s aims at maximizing their profits subject to their production Isoquants (Mceachern,
However, inflation and unemployment issue tend to be a more critical due to their adverse impact in an economy. Inflation entails a persistent rise in services and commodity while unemployment is an economic
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