Demand Curve Simulation

This simulation helped familiarize this student with the drive curve, ply curve, equilibrium, and value crown. In the simulation, the user plays the part of billet Manager of GoodLife focusing. GoodLife caution manages seven apartment complexes in Atlantis and is the and caller-up that rents apartments; therefore it has a monopoly on the market. This means they fag set the lease measure out to any footing they choose. Management also realizes that higher prices would go for some renters away creating slight demand. In order to aver a low per centum of unoccupied apartments, GoodLife has set a land open rental tumble for their properties. As the Property Manager, duties accept adjusting the monthly rental rate of two-bed rental apartments and the quantity supplied base on the market trends. As cosmos increase, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the human body of occupied apartments. With the macrocosm boost, incomes raised as well. This led renters to execute 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 bedroom apartment rentals in an confinement to allow families to find affordable housing. The demand for apartments was again dissonant with the supply available. Presently, because of fluctuating boast 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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