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Supply And Demand Simulation Project Atlantis

Supply and demand simulation: Project Atlantis

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Title: Supply and demand simulation: Project Atlantis

Essay Details:

Subject: Miscellaneous

Author:

Date: November 11, 2013

Level: University

Grade: C

Length: 4 / 1190

Essay text:

They did this by lowering prices to $950 rent per month on their apartments. The lower price increased demand for the apartments and GoodLife filled 1900 apartments with a surplus of only 100 apartments leaving a vacancy of only 5 percent. Lintech Inc. and other companies came into Atlantis and increased the population in the city. When the new companies moved in it created a increase in demand, shifting the curve to the right, this gave GoodLife the incentive to rent out more apartments because a higher equilibrium price is accomplished. During year 7 consumers preferred detached homes to apartments so it provided a shift to the left in the demand curve and created a surplus in apartments and GoodLife had to lower their rental rates to keep up with the competition...

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