ECONOMICS PRINCIPLES: SUPPLY AND DEMAND SIMULATION ABSTRACT This project discusses a simulation that relates to supply and demand. The simulation runs through a variety of potential outcomes in relation to certain operations that can be related to the local apartment rental market in the fictional city of Atlantis. The effect that certain supply and demand features such as price elasticity is also examined in some detail. SUPPLY AND DEMAND IN THE SIMULATION The simulation discusses supply and demand in relation to the rental apartment market in Atlantis, a fictional city. The simulation reveals that supply and demand is an economic model that characterizes and predicts variances in the price, quantity, and distribution of goods or...The end:
..... is examined relative to the strategic decisions that Goodlife Management Company must make in adding inventory or limiting it. For instance, the company’s current 2000 two bedroom apartments and its 28 percent vacancy rate must be lowered and the simulation examines ways in which this can be accomplished. REFERENCES Carbaugh, R. (2007). The Future of the U.S. Postal Service. CATO Journal, 27/03, p.459. Edelstein, R. & Tsang, D. (2007). Dynamic Residential Housing Cycles Analysis. Journal of Real Estate Finance & Economics, 35/03, p.295. Mantalti, A. (2007). Housing Affordability is Misunderstood. inFinance, 121/05, p.17. Redfern, B. (2009). Supply Gap Keeps Rental Prices High. MEED: Middle East Economic Digest, 53/03, p.24.