Supply and Demand Simulation

The purpose of the good example is to familiarize a substance abuser with the request curve, supply curve, equilibrium, and price ceiling. As a stead theatre director for GoodLife care in Atlantis, the responsibility for maintaining commonsensical term of a contract range and quantity of apartments posited involves several factors. Personal preferences, saving, income, and rental places each(prenominal) affect the vacancy and occupancy ratios. Decisions regarding supply, pauperization, and month-to-month rental pricing all require careful evaluation. Regular monitoring of supply and demand is necessary to rest competitive in the ever-changing deliverance everyone lives in. As the community evolves, GoodLife management must make accommodations to wait viable in the real estate industry. Further prophesy of this paper summarizes the content of this manikin while applying to an organization providing financial services, the causes of changes in supply and de mand, shifts in supply and demand link decision making, key points from classroom reading assignments emphasized in simulation, and how price elasticity of demand affects the decision making of the consumer and of the organization. GoodLife Management is the only firm in Atlantis managing seven different complexes. The simulation allows the user to play a management role with responsibilities of receiving 30-day contract notices, setting advertising schedules, and establishing new rental strides.

Throughout the maiden year, the user is required to select a rental rate, which stray decrease the vacancy rate below fifteen percenta ge from an initial twenty-eight percent mean! while, maximizing revenue. This proves an increase in quantity demanded at a lower price as more potential tenants are willing to rent apartments at a lower vacancy rate. As the rental rate is lowered, revenue initially increases, reaching a maximum at a particular rental rate and quantity demanded which thusly decreases. Two years later, the National Property manager, Susan Hearst, decides to maintain a zero percent vacancy rate allowing the... If you want to accept a full essay, order it on our website: BestEssayCheap.com

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