price elasticity of demand
Apple Inc., formerly Apple Computer, Inc., is an American multinational corporation headquartered in Cupertino, California that designs, develops, and sells consumer electronics, computer software and personal computers. It is known of hardware Products Company for the Mac line of computers, iPad tablet computer, iPhone smartphone, and iPod music player. They use OSX and iOS software as operating systems. Most of iPhone known softwares are the iTunes browser and the safari web. Apple Inc. has designed and released smartphones in many versions of iPhone (iPhone, iPhone2, iPhone3, iPhone3s, iPhone4, iPhone4s, iPhone5, iPhone5c, and iPhone5s). The latest iPhone was iPhone5s. On this opportunity I choose iPhone 5s for my Microeconomics mid paper.
Last September Apple has issued the iPhone 5s (along with the 5c), which has sold over 6,500,000 item in the first month. In its first week of availability in the U.S market the IPhone 5s was about 3.4 times more popular than the iPhone 5c (which either replicates or improves upon the features in its predecessor of the iPhone 5, but there are a few noticeable differences). The iPhone 5s has been outselling the iPhone 5c by more than a two-to-one margin, adding the iPhone 5s accounted for 64 % of new iPhone market sales.
There was a big satisfaction with the elasticity that enabled them to reach their goals, (which were twice for the iPhone 5s as they were for the previous iPhone.) Price elasticity of demand refers to the change of the product’s quantity demanded when there is a change in the price of the product. In other meaning, it refers to the responsiveness of quantity demanded by a change of 1 % in price. There is a different on the elasticity of demand of iPhone5s depends on the economy and standard of life of country where were being sold. For instance, when the iPhone5s first released in countries like the united stated and Dubai, it could be considered as an inelastic, the reason simply because, most people are
Last September Apple has issued the iPhone 5s (along with the 5c), which has sold over 6,500,000 item in the first month. In its first week of availability in the U.S market the IPhone 5s was about 3.4 times more popular than the iPhone 5c (which either replicates or improves upon the features in its predecessor of the iPhone 5, but there are a few noticeable differences). The iPhone 5s has been outselling the iPhone 5c by more than a two-to-one margin, adding the iPhone 5s accounted for 64 % of new iPhone market sales.
There was a big satisfaction with the elasticity that enabled them to reach their goals, (which were twice for the iPhone 5s as they were for the previous iPhone.) Price elasticity of demand refers to the change of the product’s quantity demanded when there is a change in the price of the product. In other meaning, it refers to the responsiveness of quantity demanded by a change of 1 % in price. There is a different on the elasticity of demand of iPhone5s depends on the economy and standard of life of country where were being sold. For instance, when the iPhone5s first released in countries like the united stated and Dubai, it could be considered as an inelastic, the reason simply because, most people are