The purpose of this paper is to summarize the supply and demand simulation in Resource for ECO/360, answer the instructor's questions regarding the simulation, and provide a summary of the results of the simulation. After reading this paper, the audience should understand how the simulation helps the user to better comprehend how the market is affected by supply and demand.
Content Summary
The purpose of the simulation is to familiarize the user with the demand curve, supply curve, equilibrium, and price ceiling. …
