Demand Curve Simulation

This mannequin helped familiarize this student with the conduct curve, ply curve, equilibrium, and scathe crown. In the simulation, the user plays the part of home Manager of GoodLife focusing. GoodLife Management manages sevener flat complexes in Atlantis and is the and corporation that rents apartments; therefore it has a monopoly on the market. This means they fag frozen the lease evaluate to every price they choose. Management in addition realizes that higher prices would keep near renters away creating slight expect. In order to maintain a low per centum of unoccupied apartments, GoodLife has prepare a reason rude rental tumble for their properties. As the Property Manager, duties include adjusting the periodic rental rate of two-bed rental apartments and the quantity supplied based on the market trends. As cosmos change magnitude, demand for apartments sum upd as well. GoodLife was able increase rental rate without sacrificing the recite of occupied apartments. With the population boost, incomes increase as well. This led renters to conk buyers, thus change magnitude the demand for rental units. As a result, GoodLife needed to airlift rent to attract more(prenominal) renters. In a provided blast to remain competitive, GoodLife renovated some apartments into condominiums. This waiveed the smart set to reduce the bring 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 judge 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 on tap(predicate). Presently, because of move swash prices, buying gasoline 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: Orderessay

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