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Several key points were mentioned in the simulation such as the demand and supply curve, equilibrium, and the impact of price ceiling. This paper will discuss the key points mentioned above and summarize the results of the simulation (University of Phoenix, 2008).
The first section of the simulation begins with the vacancy rate of two-bedroom apartments on temporary and month-to-month lease in Atlantis which is currently at 28%. The requirement in this section is to decrease the vacancy rate to 15% while maximizing revenue (University of Phoenix, 2008). The rental rate must be decreased to stimulate an increase in demand which employed Law of Demand application...
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