Watch the Khan Academy Video "Changes in Market Equilibrium" located in the Week 1 Khan Academy Vide

Aug 17th, 2016
Studypool Tutor
Price: $15 USD

Tutor description

Watch the Khan Academy Video "Changes in Market Equilibrium" located in the Week 1 Khan Academy Videos. Write a 1,050- to 1,400-word paper summarizing the content of the simulation and address the following: Identify two microeconomics and two macroeconomics principles or concepts from the simulation/video. 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/video. 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/video 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 conce

Word Count: 2491
Showing Page: 1/5
Answer point one---------------DiscussionAtlantis is a town with good two bedroom rental apartments. The town is healthily populatedand many people are renting these apartments. It is imperative to be aware of what ishappening in the local economy in this town, and it is crucial to observe both themacroeconomics and microeconomics perspectives. On the microeconomics perspective, it iscritical to consider how people in Atlantis will be affected by the supply and demand of thesetwo bedroom rental apartments. If the prices of these apartments are raised, would people becapable of making the necessary adjustments and be able to keep the apartments?Macroeconomics considers the economy as a whole. Initially, the town of Atlantis washealthily populated and individuals were renting these units. However, when Good LifeCompany came into town, the demand for the two-bedroom apartments soared with thegrowing population. A positive change in demand leads to a boost in amounts demanded anda positive change in supply as realtorsâ location themselves to take advantage ofthe advanced prices. The economy as a whole, with new Good-life Company would be ableto afford an increase in the rent price. After some few years, the demand for the two-bedroomapartments declined due to the fact that individuals wanted to buy detached homes.With regard to supply and demand curve shifts, in the economic simulation, there were manycases reflecting shifts in the demand and supply c

Review from student

Studypool Student
" Tutor was very helpful and took the time to explain concepts to me. Very responsive, managed to get replies within the hour. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1820 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