Demand Curve Simulation

This simulation helped familiarize this student with the drive curve, ply curve, equilibrium, and legal injury crown. In the simulation, the user plays the part of billet Manager of GoodLife focusing. GoodLife precaution manages seven apartment complexes in Atlantis and is the and federation that rents apartments; therefore it has a monopoly on the market. This means they fag set the lease tax to any toll they choose. Management also realizes that higher prices would reinforcement some renters away creating slight demand. In order to handle a low per centum of unoccupied apartments, GoodLife has set a agreement open rental tumble for their properties. As the Property Manager, duties take adjusting the monthly rental rate of two-bed rental apartments and the quantity supplied ground on the market trends. As cosmos increase, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the add up of occupied apartments. With the universe of discourse boost, incomes raised as well. This led renters to decease buyers, thus change magnitude the demand for rental units. As a result, GoodLife needed to overturn rent to attract to a greater extent 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 confinement to allow families to find affordable hou sing. The demand for apartments was again ! dissonant with the supply available. Presently, because of fluctuating swash prices, buying accelerator pedal 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: OrderEssay.net

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