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Supply And Demand Simulation Paper

supply and demand simulation paper

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Title: supply and demand simulation paper

Essay Details:

Subject: Business

Author: Michael W

Date: July 21, 2011

Level: University

Grade: B

Length: 3 / 724

Essay text:

In the simulation, as the price decreased, demand increased. The supply curve, on the other hand, is upward sloping. The quantity of two-bedroom apartments increased as the price increased. A surplus in the market for the apartments exerts downward pressure on the price. This means to attract the possible renters, GoodLife would need to lower prices. On the other hand, a shortage in the number of available apartments exerts an upward pressure on the price. To maintain the balance of quantity demanded and the quantity supplied, GoodLife would need to raise the prices. 2. How do shifts in supply and demand affect your decision making? Shifts in supply and demand in the simulation were caused by several factors...

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