Title: Supply and Demand Simulation

Essay Details

Subject: History
Author: David B
Date: August 4, 2015
Level: University
Grade: A
Length: 3 / 733
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

There are four key points in the emphasized in the simulation; supply and demand, equilibrium, shifts in the supply and demand, and price ceilings. The concepts in the simulation can be related to the workplace of the author of this paper. Factors that affect supply and demand in the simulation are driven by the availability of the rental apartments, the demand for the rentals, the number of available renters, and the price...

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According to the simulation, a demand curve is downward sloping. In the simulation, as the price decreased, demand increased. The supply curve, on the other hand, is upward sloping. The quantity of two-bedroom apartments increased as the price increased. A surplus in the market for the apartments exerts downward pressure on the price...

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