ECO 365 Week 2 Supply & Demand Simulation
94.66%, 2509 sales
Ask seller a question
Complete the Supply and Demand Simulation located on the student website (Screen shots of the scenario are available).
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?
Explain how the price elasticity of demand affects a consumer's purchasing and the firm's pricing strategy as it relates to the simulation.
1050 words with 2 references and citations.
Answer will be sent on email.
Other Products from homework:
View all products
HW-381 Accounting for managers
HW-1665 Accouting Budget
HW-531 Average collection period
HW-513 BUS517 Alpha Beta software
HW-1052 Strategic Planning Paper
HW-1482 Developing Good Business Sense activity
HRM326 Week-4 Delivery Method - Webinar
HW-1698 Access SC_Access2013_CS_P1a_FirstnameLastname_2
HW-1585 ACC205 Qs 6,7
QNT351 Week-5 Final Exam (Score 97%) - Online
Last Updated: 25 Jun 2016 02:05:47 PDT
Powered by eCRATER - a
free online store builder