Economics

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.      

Sample Solution