Submitted by:-

Eshita Mittal
Kshitija K.
MBA(FM)
 IPhone 8 (64 GB) -The iPhone 8 and iPhone 8 Plus are smartphones designed,
developed, and marketed by Apple Inc. They were announced on September
12, 2017 and were released on September 22, 2017.
 Specifications:-
1. iPhone 8 and 8 Plus retain the Retina HD Display found in iPhone 7,but
they now feature True Tone technology, allowing for automatic screen
adjustments based on surrounding ambient lighting.
2. iPhone 8 features a 12 MP camera with autofocus,
f/1.8 aperture and optical image stabilization capable of
capturing 4K video at 24, 30, or 60 frames per second, or 1080p video at
30, 60, 120 or 240 frames per second.
3. iPhone 8 and 8 Plus contain the Apple A11 Bionic system-on-chip, a hexa-
core processor that the company says features two cores that are 25%
faster than the previous generation's A10 processor and four cores that are
70% faster than the prior model.
The change in the quantity demanded of a product due to a change in its price
is known as Price elasticity of demand. Thus, the sensitiveness or
responsiveness of demand to change in price is as called elasticity of demand
1) Perfectly elastic demand
2) Relatively elastic demand
3) Elasticity of demand equal toutility
4) Relatively inelastic demand
5) Perfectly inelastic demand
 When the demand
for a product
changes, increases or
decreases even
when there is no
change in price, it is
known as perfect
elastic demand.

D E M A N D x
 When the proportionate
change in demand is
more than the
proportionate changes in
price, it is known as
relatively elastic demand.

D E M A N D
When the proportionate
change in demand is
equal to proportionate
changes in price, it is
known as unitary
elastic demand
When the proportionate
change in demand is less
than the proportionate
changes in price, it is
known as relatively
inelastic demand
When a change in price,
howsover large, change no
changes in quality demand,
it isknown as perfectly
inelastic demand
Month Price Quantity Demand
/Month
February 2018 62,590 24
March 2018 61,999 27
April 2018 61,299 18
May 2018 60,153 29
June 2018 59,743 33
July 2018 59,499 25
August 2018 58,799 36
  .

Price
63,000

62,500

62,000

61,500

61,000
Price Price
60,500
Linear (Price)
Change in Price
60,000

59,500
Change in
59,000 Demand

58,500
0 5 10 15 20 25 30 35 40

Quantity
Price Elasticity = (% change in quantity / %
change in price)

Price Elasticity = Q/Q P/P

=0.27/-0.02
=-13.5

The Product is Relatively Price Elastic.

 .