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Okay so this is likely to be confusing to read, please bear with me.

The base price of an item is 1440. There are only 6 of these items and there is a population of 20. 10 of the population want or need the item. Is it possible to up the price by a percentage based on a the need of the population?

For instance if the 10 who don't want the item wouldn't pay over the base cost, but the 10 who wanted it would be willing to pay up to 5% more. (or some other number, I'm just throwing out ideas now.)

I hope I worded this in a way that can be understood. What I'm trying to do is set up a makeshift economy for a game I'm making, I'd like the prices to fluctuate based on the needs of the population at any given time, I'm just at a loss for where to begin.

Any help is greatly appreciated.

Lord_Farin
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Trumi
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  • I would say that it will depend on how much they need the item. I would usually expect them to do a cost/benefit analysis (what they can gain from the item and how much they can afford before breaking even) before buying the item or choosing to buy it at a certain price. – Jerry May 30 '13 at 14:19

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Since this is for a game, simply set up a demand curve that is downward sloping. Depending on the game specifications, you can set up the demand curve to be linear or nonlinear as along as the slope is negative.

response
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  • thank you both for responding ^^ I think I figured out a simple workaround equation that works well enough for my purposes ^^ – Trumi May 30 '13 at 17:56