Supply And Demand Simulation: Project Atlantis
Supply and demand simulation: Project Atlantis
The supply and demand simulation was a simulation of GoodLife Management, a property management firm controlling all of the seven apartment complexes in the city of Atlantis. For the 9 year period in the simulation the housing market had many ups and downs because of businesses moving into the area bringing an increased amount of jobs, the change in consumer preferences and company expectations, and the policy changes induced from the government.
What causes changes in supply and demand in the simulation?
In year one GoodLife Management wanted to fill the apartments with a less than 15 percent vacancy rate while gaining the most possible revenue. 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......
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Approximate Word Count: 1154
Approximate Pages: 5 (250 words per double-spaced page)
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