week3_personal_assignemnt - Name Christina Brown BUSN 5620...

This preview shows page 1 - 2 out of 7 pages.

Name: Christina Brown BUSN 5620 Current Economics Analysis Week 3 Personal Assignment Some students have difficulty understanding the laws of supply and demand and the difference between changes in demand (supply), which are caused by changes in the respective determinates of demand or supply, and changes in quantity demanded (supplied) which result from changes in the price of the good or the service. Before you complete this assignment, I suggest that you again review Chapter 3 and my lecture material provided this week. There are some basic principles, which must be followed when constructing supply and demand graphs, for example, price is always on the vertical axis and output (quantity) on the horizontal axis. I also strongly suggest that you review the website Economic Basics: Demand and Supply and the videos at Macroeconomics for MBA YouTube Channel , from the Internet which can be found through these links. If you have questions, remember to post them to the General Questions area of the Discussion forum. Problem 1 Why did Apple set the initial price of the iPhone 6 below equilibrium (see the News Wire “Market Shortage” p. 63)? Should Apple have immediately raised the price?
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Spring '12
  • aghbatutu
  • Supply And Demand, crude oil, BUSN 5620, Week 3 Personal Assignment, Christina Brown

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern