Discuss how price and quantity are determined for the Apple iPhone 6 plus.

Module 03 course project – market structure classification

There are many factors that influence the price and availability of Apple iPhone 6 Plus. These include market demand, supply, cost, profit potential, competition prices, marketing strategies, and production costs. For example, if there is high demand for a product like the iPhone 6 Plus but limited supply then this could drive up prices due to people’s willingness to pay more for it.

The cost of parts used to manufacture the phone can also impact pricing (for example, battery packs or display screens). Apple could also offer discounts or promotions to lure consumers into buying their products. These can have an impact on how much they will pay and the number of units that they purchase.

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