Blog Post 4 Industry and Market Type Apple is known as an oligopoly market structure in the competition of smart phone brands announcements, but Apple is known as monopolistic competition in the branded computers.Monopolistic competition in which many sellers are producing highly differentiate products. Apple has been able to maintain their position because its too costly of difficult for any rivalry to enter the industry. There are a lot of different kinds of competition for Apple but not too many of them are close to Apple. Apple is a multi-billionaire company so they buy all there sources from foreign countries and they can buy all there material thats used to make the devices wholesale, that way they can set there own prices on their items. Oligopolies don't have to settle for industry prices and are often able to set their own price. Apple is able to keep there manufacturing prices low which helps them keep all close competitors out and keep Ap
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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
Supply/Demand Blog post #2 The iPad I have is the iPad 2 64 gigabyte but without the data. The first iPad that had come out was just a regular tablet without any cameras or anything fancy really. Everyone wanted the iPad because it was the next big thing and Apple was still becoming big during that time. The iPad took almost a complete 2 years to start and fully finish it because of all the difficult things to perfect it. A lot of people who were not quite familiar with apple at the time would have rather got the Acer tablet because the price for an iPad was $499 which is really expensive but the Acer was a lot cheaper I'm not sure on the exact price of that tablet but everyone was talking about the price difference. The way the supply and demand works with iPad is if there are more people who want the iPad then the price for it is going to go up quite a bit because they are needing to make more but if people don't want the iPad then the demand will go dow
A few years ago I wanted to buy an iPad but it was a couple hundred dollars and my parents would pay for half of it which meant I had to save up at least $400. At that time I also wanted to buy a phone because I didn't have one but that was $500 and my parents wouldn't help me with that because they didn't want me having a phone yet. I went and did a bunch of work for family friends and just kept saving up my money to see how long it would take me to save up for either of them and after a few months I finally just got the iPad so I could get the help from my parents. I had to use opportunity cost in that situation without even realizing it at the time, if I got the iPad then I'd have to use my money for that and if I wanted to get the phone I wouldn't be able to get the iPad but I finally decided on the iPad because it would be easier to save up for because it was $100 less. I also chose the iPad because if I would have gotten the phone then I would ha