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Submitted by Smart Tutor on Wed, 2013-09-04 09:51
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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 365 xxxxxx and Demand Simulation

file1.doc preview (862 words)

xxxxxxx � �PAGE xxxxxxxxxxxx xxxxxxxx x Supply xxx Demand xxxxxxxxxxxx

x

ECO365

xxxxxx xxx xxxxxx xxxxxxxxxxx

Student Name

ECO/365 – Principles of xxxxxxxxxxxxxxx

xxxxxxxxxx xxxxx

xxxx

xxxxxxxxxxxx

The xxxxxxx of this xxxxx xx xx xxxx xxxxx xxx Supply and xxxxxx xxxxxxxxxx xxxx xxx xxxxxxx xxxxxxxx The xxxx is xx xxxxxxxx two microeconomic and two xxxxxxxxxxxxx xxxxxxxxxx present xx the xxxxxxxxxx and to explain why these xxxxxxxxxx xxx categorized as xxxxx or microeconomic. xxx xxxxx xxxx xxxx determine xxx xxxxx of the supply curve and xxx shift of xxx xxxxxx curve from the xxxxxxxxxxx xx well as xxx xxxxx shifts xxxxxxx xxxxx impact xx xxx equilibrium xxxxxx on decision making, and on xxxxxxxx xxxx xx also analyzed. xxxxx it will xxxxx xx ways xx which concepts xxxxx xxxxxx xxx xxxxxx can xx xxxxxxx xx xxxx life-situation xxx in xxx workplace. xxx paper xxxx xxxx xxxxx to xxxx in which xxxxxxxx of xxxxx xxx macroeconomics xxxx in understanding xxxxxxx xxxx

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