Apple Inc. Elasticity of Demand & Cross Elasticity

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Introduction:
Apple, Inc. is an electronics and software company based in California, USA. Originally known as Apple Computer, the company is familiar to most people as innovators of the personal computer as it is known today. Apple Computer had introduced many of the now-commonplace features of personal computers, including the GUI, the mouse, the floppy disk drive, and color graphics. Apple Computer's Macintosh line of PC's had brought numerous software and hardware components within reach of the average home consumer, often in a stylish case and with an emphasis on usability. The restructured company, now called simply Apple, designs, markets, and sells not only personal computers but also consumer electronics in the form of portable media players and smart phones. Apple also sells intangible goods in the form of software, music, and video. The Apple Store chain operates over 150 branches worldwide, where the devices and software and sold and serviced. Apple products can be narrowed as “iPhone , iPad , iPod touch , Mac , Apple” I will target the iPhone in my research

At the Macworld Conference & Expo in January 2007, Steve Jobs revealed the long anticipated iPhone. On February 5, 2008, Apple updated the original iPhone to have 16 GB of memory, in addition to the 8 GB and 4 GB models , Then Steve Jobs announced that the iPhone 3G would be available on July 11, 2008 . On June 8, 2009, at Apple's annual worldwide developers conference, the iPhone 3GS was announced , On June 7 2010 the iPhone 4 was revealed & apple said that “it’s the biggest leap we’ve taken , since the original iphone” , In June 2011, Apple overtook Nokia to become the world's biggest smart phone maker by volume , On October 4, 2011, Apple unveiled the iPhone 4S, Which had a massive hit on the public & can be classified as the most seller iPhone in the history of apple. Apple can be included in the monopolistic competition , It’s a type of competition where : 1- All firms...
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