ECO 365 week 2 Microeconomics and the Laws of Supply and Demand

Apr 27th, 2015
DreamIt
Category:
Economics
Price: $15 USD

Question description

Complete the Supply and Demand Simulation located on the student website.

Make sure to cite UOPX materials, too, like the sim, using APA.

***Be very careful about originality. All submitted assignments at UOPX require a Certificate of Originality.

I just finished teaching a course where 3 students failed. They used others' words, weren't original, and received 0-points because they plagiarized. If you have over 12% similarity, the paper may be rejected because of plagiarism.

Be especially careful with team assignments. Instructors have *** very powerful plagiarism checkers *** so you may find yourself on a team with someone who doesn't submit original work. You might be at risk of earning 0-points for a team assignment.


Write a 700 - 1,050-word paper summarizing the content of the simulation, and address the following:

Identify two microeconomics and two macroeconomics principles or concepts from the simulation.

Students using and citing the Colander text will earn more points.

Explain why you have categorized these selected 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.

Explain what causes the shifts, and how each shift affects the equilibrium price, quantity, and decision making.

Include responses to the following:

  • How may 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?
  • How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?
  • How does the price elasticity of demand affect a consumer's purchasing and the firm's pricing strategy, as it relates to the simulation?

Format your paper consistent with APA guidelines. Make sure to include a thesis statement and summary conclusion.


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Duke University
PREMIUM TUTOR

Studypool has helped 1,244,100 students

5 Reviews


Summary
Quality
Communication
On Time
Value
ashleyisgod
Dec 1st, 2016
" Top quality work from this guy! I'll be back! "
Molly_Moon
Nov 8th, 2016
" AMAZING as always! "
Hemapathy
Oct 17th, 2016
" all I can say is wow very fast work, great work thanks "
BlueOcean
Oct 3rd, 2016
" Awesome! Exactly what I wanted. "
kevin12622
Sep 24th, 2016
" Goes above and beyond expectations ! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1826 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors