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Principles of Microeconomics-Term Paper

Principles of Microeconomics-Term Paper

Q Select at least three news articles that discuss the economic concept that you chose as a topic for your term paper. At least one news article should be dated within the previous two months The Term paper should have the following structure: 1. Abstract (0.5 of a page) – the short description of the concepts, problems, questions discussed in the Term paper. 2. Introduction (0.5 of a page) (optional) 3. Literature Review (about 2 pages) – please compare and contrast the opinions of the authors of the articles, present the important information, data, statistics to support your conclusions. It is important that the Literature review is written in your own words with small quotes from the article. All quotes must have references in APA format. 4. Discussion(about 2 pages) - Your task for this part of the Term paper is to analyze the issue described in the articles using the economic concepts and theory learned in this class. Refer to the course content materials and use specific economic vocabulary within your term paper. The articles you choose may not use these exact terms; therefore, it is incumbent upon you to convert the article language into economic language as is appropriate. Include at least one graph developed in our course. 5.Conclusion (0.5 of a page)-The Term paper should be the title page and sub-titles that correspond to the structure described above. Please note the Term paper should be written in your own words. You can use short quotes from the article(s) to support your statements. However the size of these quotes should be reduced to minimum. No more than 20% of the text of the term paper should be made up of quotes.(less is better!!!) Acceptable sources of the information are: research papers, newspaper articles, and books.

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The monopoly is one of the most complex market structures. In the monopoly industry, the producer enjoys an above normal profit as they face no competition due to a high barrier of entry. The monopoly market affects the consumer surplus by increasing the price to maximize the monopoly profit. On the other hand, monopolist producers enhance innovation by investing in R&D. This paper tries to find out the overall impact of monopoly in society in terms of costs and benefits. Through the analysis, the paper finds that though monopoly affects the buying power of the consumers, the innovation generated by the monopolists actually eases the lives of the consumer as well as sometimes creates a new job through innovation.