Microeconomic Supply and Demand Essay

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Microeconomics and the Laws and Demand Carolina Vizcarra ECO/365 10/30/2014 University of Phoenix Microeconomics and the Laws and Demand There are two economic model that determines prices on the market and also one of the central concepts that there is in the economy which are supply and demand. When there is insufficient goods most of the time the markets have to reduce the quantity of the people demand but as the prices starts to rise the people then starts to buy less goods. A well maintained city like Atlantis has a lot of things to offer to residents for an example would be like having good parks, easy access to the highways, low crime rates and having good maintained sidewalks are also important. When supply and demand were affected they had to decreased the rent in order to lower the vacancy percentages and also to increase the revenue for the company. By doing this process it is being considered as a temporary fix on a month to month basis and also makes it a good example of microeconomics. When the company had come to town and had increased the population including jobs this was another example of microeconomics. The jobs and population increases and they suggest to increase the rental rates as well in order to response to the increase in demand. For macroeconomics, an example was when the surveys that had the information of the people who worked in Atlantis that were living in the neighboring cities due to the rents that were lower. Another example was when it said that the government had to step in and had to put a ceiling to the apartments for a cost of $1550 on their monthly rent for the 2 bedrooms apartments. This would help out the families that were considered the middle class so they can afford to live in the city that they were working. A fact is that with this changes this had caused the company to rent only a certain portion of the

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