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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 931 |
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The demand curve in this section will be increased because the greater population will require housing and the supply curve will remain as unchanged because there was no change on the amount of available apartments. To reach the new equilibrium, the rental rate increased to $1,400 per month in which the quantity demanded and the quantity supplied is at 2,350 units...
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To reach the new equilibrium, the rental rate increased to $1,400 per month in which the quantity demanded and the quantity supplied is at 2,350 units.
The fifth section of the simulation discussed the change in consumer preference towards detached homes rather than apartments. This resulted in a decrease to demand at which the demand curve shifted to the left...
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