Supply and Demand Simulation ECO 365 May 14, 2012 Supply and Demand Simulation With my simulation, I chose to have a vacancy rate of 5 % which maximized revenues at $ 1.81 million. When facing a falling or rising demand, I aimed for equilibrium price as determined by the intersection of both the supply and demand curves. When a price ceiling was implemented, I could only supply a limited number of apartments at the predetermined price. The market forces of demand and supply are the best
Words: 590 - Pages: 3
Supply and Demand Simulation Leticia Shamma ECO/365 July 24, 2013 Karl Bitter Supply and Demand Simulation The Supply and Demand Simulation was very insightful. I related to it since I am in property management although I did have some difficulty with the reasoning. The simulation was designed to help us understand demand and supply as well as the effect of a price ceiling on a specific quantity as well as the quantity supplied. According to our textbook, Microeconomics is the study of
Words: 1036 - Pages: 5
English 122 Nature vs. Man In the world now there are views of what can or should be done with the environment, use what is available to save any animal/plant/bug for the future. Then there are the options that go between those two extremes. Looking at some of the views from our readings as well as other sources, we’ll see what is looked at as right and wrong ways to use and preserve nature. There are many views on how the Earth should be used or preserved, but the how to do it with the world’s
Words: 1048 - Pages: 5
ECO 365 Industries consist of all firms making similar or identical products. Their market structure depends on the number of firms in the industry and the ways in which they compete. Our group discussed four basic market structures. The first market structure is perfect competition. Perfect competition occurs when numerous small firms are in competition with each other. Businesses in a competitive industry produce the socially optimal output level at the absolute minimal possible cost per unit
Words: 532 - Pages: 3
Topic | Answer | What caused changes (please indicate if the changes are movements along or shifts) in supply in the simulation? | Movements along the supply curve: quantity supplied increased when rental rates increased. Good.Shifts: A change in expectations of the number of apartments available caused a shift to the left (decrease) because apartments were expected to be converted to condominiums for sale. Good. | What caused changes (please indicate if the changes are movements along or shifts)
Words: 516 - Pages: 3
New companies entering the market, mergers, and globalization, on pricing and the sustainability of profits: Identify the type of merger activity in your industry or one with which you are familiar–horizontal, vertical, or conglomerate–and explain why you made that choice. (Gerald) Current and expected government policies and regulations, including taxes and regulations in place to address issues related to externalities. (Monica) Global competition on the decisions made by management with
Words: 251 - Pages: 2
Sarbanes-Oxley Act (SOX-Act) of 2002 Article LAW 421 May 02, 2013 Mr. Mark Reed Sarbanes-Oxley Act (SOX-Act) of 2002 Article In this report, we will discuss about a couple of healthcare whistleblowers, who had to endure harassment and unjust treatment after disclosing some wrong doings in their place of employment. We will also discuss how this act protects whistleblowers and the penalties involved for those who are found in violation of the Sarbanes-Oxley Act. ARTICLE SYNOPSIS This
Words: 516 - Pages: 3
When a company is first born the last thing on its owners mind is merging with another company. A merger is sometimes a voluntary and sometimes and involuntary transaction. If a company has found itself in a place of financial difficulty or is simply exhausted all its resources to remain open, a merger may be the only way its employees can retain their position. The alternative would be to close its doors and give up. Below we will discuss the differences between horizontal, vertical, and conglomerate
Words: 518 - Pages: 3
Microeconomics and the Laws of Supply and Demand Megan O’Brien ECO/365 1/19/2015 RIna Bills The simulation on supply and demand relates to the Goodlife Management Company which leases apartments to renters. As the property manager, I was asked to set rental prices in a variety of situations in order to meet the demands of the population in the area while attempting to maximize profits for my company. Microeconomic principles such as the law of demand, the law of supply, equilibrium, and price
Words: 705 - Pages: 3
Coffee Consumption Patterns Kristi Mouton ECO365 Monday, May 28, 2012 Professor Lisa Messemer Coffee Consumption Patterns People across the globe consume various products on a daily basis. How much and how often goods are consumed can depend on several factors that can build on each other or act independently to influence an individual. It is these causes that set a precedent for what consumers will purchase and the amount of products to be produced by manufacturers and farmers. This is known
Words: 862 - Pages: 4
