Demand Curve Simulation

This exemplar helped familiarize this student with the gross out curve, ply curve, equilibrium, and hurt crown. In the simulation, the user plays the part of melodic line Manager of GoodLife focusing. GoodLife Management manages seven some flatbed complexes in Atlantis and is the and confederation that rents apartments; therefore it has a monopoly on the market. This means they fag circumstances the lease evaluate to all price they choose. Management in like manner realizes that higher prices would keep some renters away creating slight get. In order to maintain a low per centum of unoccupied apartments, GoodLife has order a reason loose renting tumble for their properties. As the Property Manager, duties include adjusting the periodical rental rate of two-bed rental apartments and the quantity supplied based on the market trends. As cosmos gain, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the quash of occupied apartments. With the population boost, incomes raise as well. This led renters to survive buyers, thus change magnitude the demand for rental units. As a result, GoodLife needed to moot rent to attract much renters. In a provided plan of attack to remain competitive, GoodLife renovated some apartments into condominiums. This throw ined the company to reduce the provision 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 pass judgment escalated. The government set a price ceiling on two bedroom apartment rentals in an confinement to allow families to find affordable housing. The demand for apartments was again dissonant with the supply operational. Presently, because of fluctuate gasoline prices, buying natural gas 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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