Demand and Supply Curve Simulation

The purpose of this exercise is to demonstrate how demand curves are constructed using the willingness to pay (WTP) information and how supply curves are constructed using the willingness to accept (WTA) information.

WTP, also called 'Bid price', is the maximum price a buyer is willing to pay to purchase a unit of a given product.

WTA, alternatively known as 'Ask price', is the minimum price a seller is willing to accept to sell one unit of a particular product.

Please select whether you want to run the demand or the supply curve simulation:

Select the type of simulation