Demand Curve Simulation

This simulation helped familiarize this student with the drive curve, ply curve, equilibrium, and scathe crown. In the simulation, the user plays the part of billet Manager of GoodLife focusing. GoodLife centering manages seven apartment complexes in Atlantis and is the and bon ton that rents apartments; therefore it has a monopoly on the market. This means they fag set the lease mensurate to any price they choose. Management also realizes that higher prices would victuals some renters away creating slight demand. In order to have got a low per centum of unoccupied apartments, GoodLife has set a cerebrate open rental tumble for their properties. As the Property Manager, duties entangle adjusting the monthly rental rate of two-bed rental apartments and the quantity supplied ground on the market trends. As cosmos change magnitude, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the add up of occupied apart ments. With the existence boost, incomes raised as well. This led renters to get under ones skin buyers, thus change magnitude the demand for rental units. As a result, GoodLife needed to overturn rent to attract more(prenominal) renters. In a provided attempt to remain competitive, GoodLife renovated some apartments into condominiums. This allowed the company to reduce the supply of apartments that were in low demand. Increased population was an asset in the beginning.

As population grew, it became a drawback as traffic, congestion, and rental rates escalated. The government set a price ceiling on two bedro om apartment rentals in an confinement to a! llow families to find affordable housing. The demand for apartments was once again dissonant with the supply available. Presently, because of fluctuating ball up prices, buying gasolene before weekends and holidays tends to save a few pennies at the gas pumps. The increase in the price of fuel may non be because of decreases in available resources, If you want to point a full essay, order it on our website: OrderCustomPaper.com

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