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During off-season the rate tend to go down drastically as the demand tends to be not very high.
Highlights of Simulation
The demand curve downward sloping, when quantity supplied increased with an increase in price decreases. This term was extensively used in simulation when rental rate was reduced during first year in order to reduce the vacancy rate...
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This term was extensively used in simulation when rental rate was reduced during first year in order to reduce the vacancy rate. The supply curve upward sloping when quantity supplied increased with increase in the price. This term was practiced in the simulation as well when rental rates were increased to lease more apartments...
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