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Submitted by waleedbravo on Sat, 2013-09-14 21:13
due on Wed, 2013-09-18 21:06
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ECO 365 Week 2 Individual Supply and Demand Simulation Paper

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

Write 700 - 1,050-word paper 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 macroeconomics help you understand the factors that affect shifts in supply and demand 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 waleedbravo on Sat, 2013-09-14 21:14
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ECO 365 Week 2 Individual Supply and Demand Simulation Paper

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xxxxxx xxx xxxxxx xxxxxxxxxx

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Running xxxxx SUPPLY xxx xxxxxx SIMULATION

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xxxxxx AND xxxxxx SIMULATION

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xxxxxx and Demand xxxxxxxxxx

The supply and demand xxxxxxxxxx xxxxxx xxxxxxxx and xxxxxxxxxx xx microeconomics and xxxxxxxxxxxxxx xxx xxxxxxxxx xxx xxxx xxxxxxx xx each concerning equilibrium xxxxxx and xxxxxxxx due xx xxxxxx xx the demand curve. This xxxxx is xxxx xxxxx to explain what was learned xxxxx supply and xxxxxx xxx xxx it xxxxx affect xx individual’x workplace. xxx simulation xxxx showed how xxx xxxxx xxxxxxxxxx of demand xxxxxxx a xxxxxxxx’s purchasing and the xxxx’x pricing xxxxxxxxx

To be able xx xxxxxxxx xxxxxxxxxxxxxx xxx xxxxxxxxxxxxxx principles and concepts xx the simulation xxx must xxxxx understand the difference between xxx xxxx Microeconomics is the xxxxxx xx xxxxxxxxx that analyzes the market xxxxxxxx of xxxxxxxxxx consumers and xxxxx xx an xxxxxxx to understand the decision making process of xxxxx and xxxxxxxxxxx xx is

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