On the Aplia Economics Blog, Ryan Knapp poses an interesting set of questions regarding the iPhone released by Apple this summer. Please read Knapp’s blog, and pay special attention to the comments at the end of the blog. Your comments should be similar in that they should be brief and well-thought out.
I would also like you to read stories by ABCnews and theStreet.com regarding the recent price cut on the iPhone. Another blog by Steven Levitt (author of Freakonomics) also discusses the iPhone price cut. Other questions to consider are the following:
- Are you more likely to purchase an iPhone now that the price has fallen? Why? Had you been considering purchasing an iPhone before the price fell?
- Imagine you had already purchased an iPhone (some of you may have) before the announced price decrease. Would you be upset about the price drop before the rebate was announced? Do you think the rebate would appease you?
- Relate the iPhone to another product you have purchased in the past where the price fell soon after you purchased the good. When you bought the product, were you happy with the transaction at your moment of purchase?
Please try to limit your comments to 100 words with a maximum of 200 words. Additionally, I would like you to state something more than the obvious economic prediction in this posting. You can also try to discuss the different positive and normative statements that are related to this topic?
NOTE: Read other students comments before posting, and please leave your name with your posting.