Reference no: EM13864228
Write a 1,050- to 1,400-word paper summarizing the content of a simulation.
Use one of the following as a reference source:
Complete the Supply and Demand Simulation located on the student website.
Identify two microeconomics and two macroeconomics principles or concepts from the simulation.
Identify at least one shift of the supply curve and one shift of the demand curve in the simulation.
Explain what causes the shifts, and how each shift affects the price, quantity, and decision making.
Include responses to the following:
How might 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 equilibrium price and quantity?
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