[Insert your responses to the following questions: What impact do policy interventions have on the supply and demand equilibrium for a product? Provide specific examples from the simulation to illustrate.]

[What are the determinants of price elasticity of demand? Identify at least three examples. Explain how price elasticity can impact pricing decisions and total revenue of the firm.]

[What policy intervention can cause a change in consumer or producer surplus? Explain why using specific reasoning.]

SELLER - Market Closed My Summary Orders Transactions Unit Cost Price Profit $0.50 $1.31 $0.81 $0.75 $1.34 $0.59 W N $1.00 $1.40 $0.40 Total Profit: $1.80 End of Game 10 00:00Personal Payoff Unit Price Cost Nuisance (per unit) 1 $4.68 $1,70 $0.13 $2.85 2 $3.90 $3.33 $0.13 $0.44 Total Nuisance caused by others -$0.80 Total $2.49 End of Game 83 12 00:00