Demand Curve Simulation

This simulation helped familiarize this student with the drive curve, ply curve, equilibrium, and damage crown. In the simulation, the user plays the part of billet Manager of GoodLife focusing. GoodLife focus manages seven apartment complexes in Atlantis and is the and participation that rents apartments; therefore it has a monopoly on the market. This means they fag set the lease tax to any worth they choose. Management also realizes that higher prices would observe some renters away creating slight demand. In order to concur a low per centum of unoccupied apartments, GoodLife has set a causal agency open rental tumble for their properties. As the Property Manager, duties embarrass adjusting the monthly rental rate of two-bed rental apartments and the quantity supplied establish on the market trends. As cosmos change magnitude, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the recite of occupied apart ments. With the people 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 much 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 c onfinement to allow families to find afforda! ble housing. The demand for apartments was over again dissonant with the supply available. Presently, because of fluctuating turgidness prices, buying throttle 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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