Supply and Demand ? good life space management this subject examines the economic phenomenon of supply, demand and labyrinthine sense. Using the fictional organization of GoodLife proportion Management in the town of Atlantis, the paper depart tally how the supply and demand curve is used to determine the equilibrium in the market for the lease of two-bedroom apartments. In addition, the paper will determine the difference between movement along the tilt of the demand and supply curves which includes the determination of how equilibrium is re-established after the curves shift. The propose of this simulation is to understand how the apartment market is affected by supply and demand.
Decisions regarding supply, demand and market equilibrium require blow-by-blow consideration. Many factors affect supply and demand such as preference, expectations, income, and lease sum ups. In holy order to make informed decisions the Property Manager must continually monitor supply, demand and manufacturing trends in order to remain competitive in nowadays?s high performance, highly competitive environment.
In order to make these decisions the Property Manager of GoodLife Management will bet on his organizations experts, Susan Hearst, National Property Manager, and Hal Morgan, Regional Property Manager, to serve well make informed decisions when adjusting the monthly rental rates and quantities supplied of two-bedroom apartments.
GoodLife, as the only company offering apartments in the Atlantis area, currently has a monopoly on the market and can set the rental rate at their discretion. First, Susan Hearst, National Property Manager, has recommended that the vacancy rate be brought down to about 15%. In addition she has communicate that the Property Manager maximize revenue. Understanding that the higher prices whitethorn keep some renters away Hal Morgan, Regional Property Manager, has recommended that the rental rates be lowered. The demand curve for the apartments is an imaginary confines at a point in time?...
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