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3.1 Income Elasticity of Demand

3.1 Income Elasticity of Demand

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Published by berylazemia

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Categories:Types, Research
Published by: berylazemia on Dec 09, 2009
Copyright:Attribution Non-commercial


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Income Elasticity of Demand
iPhone sales set to be huge
The iPhone is about to hit UK shelves,with Carphone Warehouse predicting itwill be their busiest sales day ever.
The Apple product combines a touch-sensitive mobile phone handset with abuilt-in iPod media player and awireless internet browser.
It is already on eBay.co.uk for up todouble the £269 price tag it will carrywhen it launches at 6.02pm on Friday.
Many of the iPhones being sold by UKvendors on the eBay online auction siteare described as unlocked, so they canwork on any mobile phone network.
To understanding the concept of YeD
To have written and numerate understanding of elasticityfigures (elastic & inelastic)
To understand the implications for revenue and profit(and therefore decision-making);

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