Question: I need the scenario explained step by step so I can learn how to do it. Thank you begin{tabular}{l} The economic principles of supply and

I need the scenario explained step by step so I can learn how to do it. Thank you I need the scenario explained step by step so I

\begin{tabular}{l} The economic principles of supply and demand are \\ important for determining the market price for a particular \\ product. The price for the product can also be used to \\ determine the quantity of the product supplied and \\ demanded in the market. The market price for the product \\ will be the price where the quantity supplied equals the \\ quantity demanded. Complete the tasks to explore the \\ relationships among price, quantity demanded, and \\ quantity supplied for the product depicted on this \\ \hline \end{tabular} What-If Analysis Practice Use Scenario Manager to compare the 5 scenarios on the SupplyAndDemand worksheet using cell C13 (Surplus/Shortfall) as the outcome variable. Create a separate scenario for each of the scenarios outlined on the scenario manager table (cells E2:J8). Use Scenario 1, Scenario 2,.. Scenario 5 as the names for your scenarios. The changing cells for the scenarios will be cells C3:C7 of the supply and demand model. Use the values on the scenarios manager table for each of the scenarios you create. Run the scenario summary and select the scenario closest to the equilibrium point using the drop-down list in cell J10. [34 points] \begin{tabular}{l} The economic principles of supply and demand are \\ important for determining the market price for a particular \\ product. The price for the product can also be used to \\ determine the quantity of the product supplied and \\ demanded in the market. The market price for the product \\ will be the price where the quantity supplied equals the \\ quantity demanded. Complete the tasks to explore the \\ relationships among price, quantity demanded, and \\ quantity supplied for the product depicted on this \\ \hline \end{tabular} What-If Analysis Practice Use Scenario Manager to compare the 5 scenarios on the SupplyAndDemand worksheet using cell C13 (Surplus/Shortfall) as the outcome variable. Create a separate scenario for each of the scenarios outlined on the scenario manager table (cells E2:J8). Use Scenario 1, Scenario 2,.. Scenario 5 as the names for your scenarios. The changing cells for the scenarios will be cells C3:C7 of the supply and demand model. Use the values on the scenarios manager table for each of the scenarios you create. Run the scenario summary and select the scenario closest to the equilibrium point using the drop-down list in cell J10. [34 points]

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