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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1217 |
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Throughout the simulation, as the monthly rental rate decreased, demand increased. On the other hand, the simulation recognized the supply curve as upward sloping. The monthly rental rate increased as the number of two-bedroom apartments increased. In order to attract prospective renters, I as the property manager of GoodLife had to lower the price...
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Alternatively, a deficiency in the amount of apartments on hand puts forth an increasing pressure on the monthly rental rate. In order to maintain equilibrium between quantity demanded and the quantity supplied, as the property manager of GoodLife, I had to raise the cost of the monthly rental rate. This presented important factors in the simulation...
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