Blog 3 Elasticity and Utility

Blog 3 Elasticity and Utility



      The Apple iPad has a lot of elasticity I believe because it is a product nobody in the world really needs but everyone just really wants it because it's really convenient and easy to pack around. The iPad is a very popular tablet and as the years go on Apple continues to keep making new versions of the Apple iPad and there always looking for ways to improve it and beat out there competition.  As more and more versions of the latest iPads come out I think the elasticity just keeps going up and up because the prices continue to go up with each of them so the demand for them must be pretty great right now.


 

        The relative elasticity of supply for the Apple iPad I think is more elastic because I feel like when a device like that goes on sale at all thats when everyone wants to buy them and it doesn't always have to be the biggest change in price because it's such a popular device even a little drop in price will attract lots of customers. 
      Apple was doing great with there supply and demand rate for the longest time but ever since they made the iPad mini 4 they haven't had as many sales because Apple doesn't think they have done enough with the tablet to make it a "must have" product. Before the iPad mini 4 the prices for the iPads were very expensive and everyone was wanting an iPad it was the biggest thing out for a while but ever since the iPad 4 mini has been released not as many people have needed them and there demand rate has gone down and it is one of the cheapest iPad I have ever seen brand new. Apple iPads sales have just recently dipped below 10 million for the first time ever since 2011. 

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