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Complete the Supply and Demand Simulation located on the student website.
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.
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.
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
Using the following information complete the cash flow budget for the months of January, February and March. Be sure to include GST in the rows provided. GST at the end of December 2006 was negative $2500.
Do you think normal market forces adequately promote the sustainable development of non-renewable resources?
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Describing how specific system used in an organization
A manufacturer determines that the supply function for x units of a particular commodity is S(x)=In (x+2) and the corresponding demand function is D(x)=10+In(x-1).Find the demand price when the level of production is x=10units
demand and supply curves for cigarettes are given byqd frac128p12 and qs 4p2where p is the price of cigarettes in
What’s Behind Starbucks’ Price Hike? By how much could unit sales of coffee beans at Starbucks decline after the 2006 price increase while keeping total revenue constant? Instructions: Enter your responses as a positive percent (do not include a nega..
Amin consumes two goods: X and Y. M is his monetary income, while Px & Py represent the prices of goods X and Y, respectively. Assume that X is an inferior good while Y is a normal good.consumption possibilities, for the quantities of Y consumed
What are some definitions of privacy? Is privacy a right unto itself? Which do you think is the soundest ethical basis on which to defend privacy? To what extent do you think companies’ gathering of personal employee information is justifiable?
a balance of trade trade balance is the difference between the monetary values of exports and imports of a countrys
Discuss the effect of an increase in the Government Budget Deficit on the rate of interest & the level of private investment. Identify the crowding out effect in this context.
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