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My simulation timed out several times however I was told I still need to use what I have for the discussion.. I need help please.
My simulation timed out several times however I was told I still need to use what I have for the discussion.. I need help please.
In your initial post, include the image of your simulation report in your response. See the How to Submit a Simulation Report Image PDFdocument for more information. Then, address the following questions:
- Based on the outcome of the simulation, was the sale price you set the same as the equilibrium price? Refer to the supply and demand model to explain why they might be different.
- Imagine that you own your own business. How would price elasticity of demand impact the pricing decisions of your business?
- What are the determinants of price elasticity of demand? Identify at least three examples.
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