Simulation Analysis

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Submitted By ant920
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Simulation Analysis
The simulation takes us through the supply and demand of two bedroom rental apartments in a nice, clean and amazing town of Atlantis. The simulation teaches us about the demand curve, supply curve and equilibrium. The simulation showed the impact of a cost Maximum on the quantity demanded and quantity supplied of two bedroom rental apartments. It also showed the effect of a price ceiling on the quantity demanded and quantity supplied. When the price ceiling is a low equilibrium, it causes shortages because of the price. The way that the price shifts drastically affects the overall amount of units they both rent and remain on the books. If you raise the price of the units, the demand will go down since there are other apartments out there that people can go find. It is important to find that fine line of where to lay the price line. If you were to have a lot of units available, you can lower the overall price to make it seem more appetizing to possible renters. By doing this you will lower you vacancy rate and increase your overall income from these units. As their lease expires in a year or two, you can slowly raise the price of the unit so you can make up your original costs. Many apartment complexes do this and at times seems like the price will never remain the same. In my opinion, this is why it is always better to buy a condominium or a single family home. Renting a place can feel like you are just throwing your hard-earned money right in the toilet. There is one major differences between microeconomics and macroeconomics. The easiest way to remember the difference is that microeconomics is more at a personnel level like pricing of certain goods you require for your household. In other words, this will affect your everyday purchasing decisions. For Macroeconomics, this is closely related to the Federal Government level.…...

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