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Economics of a firm

Write a 1,500 - 2,000 word answer discussing a current topic in the field of Managerial Economics (the economics of the firm).

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The response addresses the queries posted in 1528 words with references.

//The given discussion is related with the 'prices of gas' at the global level. In the universal economy, the prices of the gas have increased varyingly, which are discussed in the given section of the description.//

Title of the Project: Global Gas Prices

Introduction

The research paper is based on the increasing gas prices at the global level. It examines the impact of increasing gas prices on the global economy. Gas is an important fuel for household as well as other activities. Gas prices have always been in the news, as they are not always at a stable level. The gas prices greatly impact the economic growth of any country. The volatility in the gas prices affects the stability of the economy. The global economy gets affected to a greater extent due to the alterations in the gas prices. The problem statement of the research will be solved with the literature review from various literary sources. It will be very helpful in arriving at a meaningful conclusion for the research (Ali, 2008).

Statement of the Problem

The problem statement for the research paper deals with the impact of the increase in gas prices on the global economy. The variations in the gas prices and its impact on the global economy will be analyzed in the research paper (Heerwagen, 2006).

//In the further section of the discussion, the aim and objective of the research is included. In addition to this, the research methodology is also included in the same segment of the discussion. The constraints of the research and the entire outline of the report is also included this discussion paper. //

Aim and Objective of the Research

The main aim behind conducting this research is to assist the readers and economists in analyzing the facts about gas prices and their affect on the economic environment. The main objective of this research study is to help the management students in understanding the variations in the gas prices. It will also help in understanding the reasons behind the fluctuations in gas prices. Simultaneously, the effect on the economy can also be understood (Ali, 2008).

Significance of the Research Paper

The significance of the research paper lies in the fact that it helps in understanding the trends in the gas prices and it's combining effect on society as well as economy. It also assists in understanding the unstable nature of the gas prices. It will help in finding out the reasons for the fluctuations in the gas prices that keep on taking place (Heerwagen, 2006).

//After defining the significance and objectives for the paper the proceeding part will present a literature review from various selected sources relating to the research problem//

Literature Review

According to author William Stan, the ...

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