Course Project – Supply and Demand Outline

User Generated

kbknatvr123

Economics

Description

For this assignment you are to write a 1 to 2-page paper that addresses supply and demand for the iPhone 6 plus.

Note: The Apple iPhone 6 plus cellular phone will be researched for each course project assignment leading up to your final submission.

Guidelines for this assignment are listed below:

  • Research the number of Apple iPhone 6 plus cellular phones that were released in the United States.
  • Identify the cost of the Apple iPhone 6 plus.
  • Discuss whether or not demand and supply are in equilibrium or is demand greater than supply.
  • Identify two factors that would cause the demand curve to shift to the left.
  • Discuss two factors that would cause the demand curve to shift to the right.
  • Identify two factors that would cause the supply curve to shift to the left.
  • Discuss two factors that would cause the supply curve to shift to the right.
  • State whether or not a price floor or price ceiling in the iPhone 6 plus would benefit consumers and why.
  • Discuss if the Apple iPhone 6 plus account is a market failure.

Assignment must align with the following guidelines:

  • Title page
  • 1 to 2-pages of content
  • At least two sources
  • Reference page
  • APA formatted

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Explanation & Answer

Attached.

Running head: COURSE PROJECT-SUPPLY AND DEMAND OUTLINE

Course Project – Supply and Demand Outline
Name
Institutional Affiliation

1

COURSE PROJECT

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Course Project – Supply and Demand Outline


Research the number of Apple iPhone 6 plus cellular phones that were released in the
United States.

On the week of its release, Apple sold 4 million iPhone 6 Plus during the first day and over 10
million phones over a week.


Identify the cost of the Apple iPhone 6 plus.

Pricing for iPhone 6 plus is:

iPhone 6s plus 16 GB at $299 on contract and $74 on full retail

iPhone 6s plus 64 GB cost $ 399 on contract and $ 849 on full retail

iPhone 6s plus 128 GB cost $499 on ...


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