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PROBLEM SETS 2
An Excel template is provided for your Problem Sets. Each problem is presented on a separate worksheet represented by the tabs at the bottom of the Excel worksheet.
You must submit only one Excel file for your Problem Sets. To receive full credit, all work must be shown and the final answer(s) must be highlighted in yellow, unless answers are derived from a graph and/or tables.
Course Project - Supply and Demand Outline:
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.
Assignment must align with the following guidelines:
1 to 2-pages of content
At least two sources