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supply and demand simulation paper

Essay specific features

 

Issue:

Business

 

Written by:

Ma C

 

Date added:

December 12, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 724

 

Was viewed:

9146 times

 

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Essay content:

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...
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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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