September 2023 ECO 365 Week 2 Individ Individual Supply and Demand Simulation Complete the Supply and Demand Simulation

2024 ECO 365, ECO-365, ECO365, ECO/365, ECO 365 Week 2 Individual Supply and Demand Simulation Version 4 Principles of Microeconomics¸ Economics (8th ed.). New York, NY: McGraw-Hill Assignment Help

ECO 365 Week 2 Individ Individual Supply and Demand Simulation Complete the Supply and Demand Simulation 2023

ECO 365 Week 2 Individ Individual Supply and Demand Simulation 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. ual Supply and Demand Simulation

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