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Submitted by AspireTutors 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 AspireTutors 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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Running head: xxxxxx xxx DEMAND xxxxxxxxxx

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xxxxxx xxx Demand xxxxxxxxxx

The supply and demand xxxxxxxxxx xxxxxx xxxxxxxx xxx principles xx microeconomics and xxxxxxxxxxxxxx xxx explained how xxxx xxxxxxx to each xxxxxxxxxx equilibrium price, xxx xxxxxxxx xxx to xxxxxx in xxx xxxxxx xxxxxx This xxxxx xx xxxx xxxxx to xxxxxxx what was xxxxxxx xxxxx xxxxxx xxx xxxxxx and how xx would xxxxxx an xxxxxxxxxx’s workplace. xxx xxxxxxxxxx also showed how the xxxxx xxxxxxxxxx of xxxxxx xxxxxxx a xxxxxxxx’s xxxxxxxxxx xxx the xxxx’x pricing strategy.

To be xxxx xx xxxxxxxx xxxxxxxxxxxxxx and xxxxxxxxxxxxxx xxxxxxxxxx and concepts xx the simulation xxx xxxx first xxxxxxxxxx xxx difference between the xxxx xxxxxxxxxxxxxx xx xxx xxxxxx xx economics xxxx xxxxxxxx xxx market xxxxxxxx of xxxxxxxxxx consumers and xxxxx in an xxxxxxx xx xxxxxxxxxx the decision making process xx firms xxx households. It is

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