PLEASE RESPOND ONLY IF YOU HAVE KNOWLEDGE OF THE ATLANTIS SIMULATION FOR ECO/365
Complete the Supply and Demand Simulation located on the student website.
Write 700 - 1,050-word paper of no more than summarizing the content. Address the following:
Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as microeconomics or macroeconomics.
Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts?
Explain how the price elasticity of demand affects a consumer's purchasing and the firm's pricing strategy as it relates to the simulation.
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