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Eco360 Supply Demand Simulation

ECO360 Supply & Demand Simulation

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Title: ECO360 Supply & Demand Simulation

Essay Details:

Subject: Miscellaneous

Author: Cornelius S

Date: February 17, 2015

Level: University

Grade: A

Length: 5 / 1348

Essay text:

As the Property Manager, the user must adjust rental rates as changes in supply and demand require or determine how many units to supply when rates become limited. The Supply and Demand Simulation (UoP, 2005) emphasizes several economic principles outlined by Colander in his book, Economics (2004), including the laws of demand and supply, equilibrium, the effect of a price ceiling, and shifts in demand and supply. Laws of Demand and Supply In the Year One scenarios, the simulation (UoP, 2005) demonstrates how rental rates affect the supply and demand for apartment units. In other words, price affects the supply and demand of available goods...

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