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Submitted by Smart Tutor on Wed, 2013-09-04 09:51
due on Sun, 2013-09-08 09:50
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ECO 365 Supply and Demand Simulation

Complete the Supply and Demand Simulation located on the student website.

 

 

 

Write 700 - 1,050-wordpaper of no more than summarizing the content. Address the following:

 

 ·         Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic.

 

 ·         Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts?

 

 ·         For each shift, analyze how it would affect the equilibrium price, quantity, and decision making.

 

 ·         How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar?

 

          How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?

 

 How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand and the impact of shifts on the equilibrium price and quantity?

 

 ·         Relating to the simulation, explain how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy.

 

 

 

Format your paper consistent with APA guidelines

 

Answer
Submitted by Smart Tutor on Wed, 2013-09-04 09:52
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ECO 365 Supply and Demand Simulation

body preview (5 words)

xxx xxx Supply and Demand xxxxxxxxxx

file1.doc preview (853 words)

�PAGE xxxxxxxxxxxx xxxxxxxxxxxx xxxxxxxx - xxxxxx and Demand Simulation

x

xxxxxxx

xxxxxx xxx Demand xxxxxxxxxxx

Student xxxxx

ECO/365 – Principles of Microeconomics

xxxxxxxxxx Name

Date

Introduction

The xxxxxxx xx xxxx xxxxx is xx xxxx about xxx Supply and xxxxxx simulation from xxx xxxxxxx website. The xxxx xx xx xxxxxxxx two microeconomic and two xxxxxxxxxxxxx principles xxxxxxx xx the simulation xxx to explain why xxxxx principles are xxxxxxxxxxx as xxxxx xx xxxxxxxxxxxxxx xxx paper will also xxxxxxxxx one xxxxx xx xxx xxxxxx xxxxx xxx one xxxxx of xxx xxxxxx xxxxx from the xxxxxxxxxxx xx well xx why xxxxx shifts xxxxxxx Their xxxxxx on the equilibrium xxxxxx on xxxxxxxx xxxxxxx and xx xxxxxxxx will xx xxxx analyzed. Then, xx will refer to xxxx in xxxxx xxxxxxxx xxxxx supply and demand can xx xxxxxxx xx real xxxxxxxxxxxxxx and xx the workplace. xxx paper xxxx also refer xx xxxx xx xxxxx concepts of micro xxx macroeconomics help in xxxxxxxxxxxxx xxxxxxx that

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