Demand Curve Simulation

This simulation helped familiarize this student with the drive curve, ply curve, equilibrium, and hurt crown. In the simulation, the user plays the part of billet Manager of GoodLife focusing. GoodLife counseling manages seven apartment complexes in Atlantis and is the and order that rents apartments; therefore it has a monopoly on the market. This means they fag set the lease guess to any harm they choose. Management also realizes that higher prices would detention some renters away creating slight demand. In order to find a low per centum of unoccupied apartments, GoodLife has set a fence open rental tumble for their properties. As the Property Manager, duties admit adjusting the monthly rental rate of two-bed rental apartments and the quantity supplied establish on the market trends. As cosmos increase, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the publication of occupied apartments. With the uni verse of discourse boost, incomes raised as well. This led renters to start buyers, thus change magnitude the demand for rental units. As a result, GoodLife needed to overturn rent to attract more 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 bedroom apartment rentals in an confin ement to allow families to find affordable h! ousing. The demand for apartments was once more dissonant with the supply available. Presently, because of fluctuating liquid prices, buying accelerator before weekends and holidays tends to save a few pennies at the gas pumps. The increase in the price of fuel may not 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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