Apple Isn 't Made More Iphones 7s Essay

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Apple hasn’t Made Enough iPhones 7s
When the iPhone 7 made its day view, many risked walking away empty-handed because Apple Inc. has not made enough of the devices to meet demand. Many people that pre-ordered the iPhone were able to get their first pick of it but many customers who didn’t were unable to receive the new phone. In 2013, Apple overestimated the demand for the iPhone and had to cut orders from suppliers. With new iPhone coming out every year more and more people have a bigger incentive to buy the phone. Since consumers are not always able to get the new item we can see the Apple runs into Shortages with their products. The demand for the phones is inelastic because many consumers are willing to pay high prices for apple products. If the price rises for apple product many consumers will continue to buy. When you look at other technology products like Dell and Microsoft, we can expect the demand of the products to be price elastic. We can also see apple product as a luxury good because if consumers increase, they have more of an incentive to buy higher priced items. Although Apple is a big brand and many people are willing to pay for the products there are many substitutes that can bought. Instead of buying the new phone or laptop, consumers could look at HP, Dell, or Microsoft laptops that might run just as well and be at a lower price. You can also substitute IPhone for android which would also be at a cheaper price. IPhone and Apps can also be looked at as
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