Market Quantity

Units:	~
Mode:	Input Only
Multi-band:	True
Default Value:	0
Validation Rule:	Any Value
Key Property:	No
Description:	Quantity point in market demand function
Detail:

Market Quantity sets the quantity part of the market supply/demand function when modelling a market with depth i.e. a market where the volume of sales or purchases affects the price received/paid. Quantity is used in pairs identified by band number with the Price property. The Base Quantity defines the cross-over point between selling into the market and buying as explained in the following example.

Property	Value	Units	Band
Price	56.03	-	1
Quantity	150	-	1
Price	44.62	-	2
Quantity	250	-	2
Price	33.22	-	3
Quantity	350	-	3
Base Quantity	250	-	1

This example defines the demand function shown in Figure 1. The Base Quantity sets the reference point separating sales (above) from purchases (below). The highest Quantity point forms an upper bound on sales into the market i.e. the maximum sales is the highest Quantity less Base Quantity. Likewise the maximum purchases from the market is set by Base Quantity less the lowest Quantity point. These bounds can be overridden using the Max Sales and Max Purchases properties.

Figure 1: Market Supply/Demand Function

Notice how the P/Q pairs are interpreted as points on a demand curve, and a step function is fitted through them automatically. You can control the step function directly by setting the Demand Curve property to false. This would result in the step function shown in Figure 2.

Figure 2: Market Supply/Demand Function with Demand Curve = False