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ECO360 Supply & Demand Simulation

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Miscellaneous

 

Written by:

Tiffany O

 

Date added:

February 23, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1348

 

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7589 times

 

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Essay content:

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...
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In other words, price affects the supply and demand of available goods. The law of demand states that quantities demanded by consumers will increase as prices of a product decrease and the reverse is also true, quantities demanded by consumers will decrease as prices of a product increase, as long as all other factors remain constant...
displayed 300 characters

General issues of this essay:
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