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Module 2 Discussion Forum
This week, you are going to discuss supply and demand and minimum wage. By now, you should have read your textbook chapters, reviewed the PowerPoint slides, and watched the videos. During this week, we read about a number of topics that we may not have ever related to the study of economics—until this week! We read about smartphones, oil and gas production, Nike shoes, and free Internet service. There are four more articles I would like for everyone to read prior to beginning this week’s discussion. I realize that two of these articles are rather “old” in the world of mobile phones, however, it shows the continuing problem of supply and demand with certain products:
Demand for iPhone 11 Outpacing Supply Chain Expectations
Apple Struggles with Demand
Data From Analyst Shows Demand Outstripping Supply
iPhone 14 Pro Finally Reaches Supply-Demand Parity
Please post regarding the following topic:
Based on your understanding of supply and demand, make a posting regarding Apple iPhones answering some of these questions: Should Apple produce more or less iPhones for consumers? Should Apple raise or lower the price of iPhones? What strategy should Apple follow to maintain the highest return on investment for its stockholders and to maximize its profitability?
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