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.
