Addressing supply and demand for the iPhone 6 plus.

User Generated

Urnguy34

Economics

Description

For this assignment you are to write a 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
  • 2-pages of content
  • At least two sources
  • Reference page
  • APA formatted

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Explanation & Answer

Hello! I have uploaded the answer to this question. Please
have a look at it and get back to me in case of anything. Thank you.
1 day ago

Running head: SUPPLY AND DEMAND

1

Supply And Demand for the iPhone 6 Plus
Name
Institution
Date

SUPPLY AND DEMAND

2

Number of Apple iPhone 6 Plus Cellular Phones Released in the United States
Apple’s iPhone 6 plus which is equipped with a screen size of 5.5 inches made 44 percent
of all cell phones sales in the United States last quarter. Generally, iPhone sales took the lead last
quarter and currently account for 18 percent of all iPhones in America (Brady, 2007).
Cost of the Apple iPhone 6 Plus
In U.S, the actual price of an iPhone 6 differs relying on which carrier you pick. The cost
of iPhone 6Plus is $236 including research, enlargement, and logistics, advertising as well as
labor costs (Hughes, 2014).
Whether Demand and Supply are in Equilibrium or Demand is Greater Than Supply
The Law of demand states that when the product’s price increases, the...


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