Supply And Demand Simulation
Supply and Demand Simulation
The first change in supply and demand is when the zero percent vacancy rates are explored on a temporary month-to-month lease for two-bedroom apartments. The result of this change was 2500 two-bedroom apartments rented at a rate of $1550, which is higher than the previous rate of $1100 with 15% vacancy rate. A shortage of two-bedroom apartments was created and the market exerted upward pressure on the rental rate. Another reason for change was the neighboring communities have much lower rental rates and the rates needed to be lowered to compete. The third reason for a change was the news of Lintech moving their offices to Atlantis. The rental rates on every vacant and temporary, month-to-month lease renewals will be increased because of the demand. This change did not affect the supply apartments, but the demand increased causing the demand curve to shift to the right as displayed in Graph 1-1.
Graph 1-1 Graph 1-2
A......
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