Part I Milestone One: Supply, Demand, and Market Equilibrium

This milestone, which covers Section II of Final Project Part I, should be a paper structured as follows:

The Company being researched is Apple, Inc. 

  1. Describe the price elasticity of supply or demand for your product or service.
  2. Explain how two nonprice factors impact the demand of your chosen product or service.
  3. Explain how two nonprice factors impact the supply of your chosen product or service.
  4. Define the industry and the market equilibrium associated with the product or service.
  5. Predict the effect of changes in supply and demand on the market equilibrium.
  6. Describe the decisions related to supply and demand for the product or service that you would make based on the predicted changes in supply and demand on the market equilibrium.

This is a 3 page paper with ATLEAST 3-4 sources cited.

Field of study: 

Answer

Project Part I Milestone One Supply, Demand, and Market Equilibrium

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