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"However, despite the sky-rocketing prices" Not despite. People don't understand the Apple brand.
by KingOfCoders 6y ago
"However, despite the sky-rocketing prices"
Not despite.
People don't understand the Apple brand.
- totalZero 6y agoPrice elasticity of demand isn't linear. Something that is a Giffen good at a lower price may well have negative marginal demand if the price rises too much.
- shannietron 6y agoIn this particular example, the iPhone is probably better represented as a Veblen good?
- LockAndLol 6y agoPeople will really pay anything for status over functionality.
- classified 6y ago> People don't understand the Apple brand. How fortunate that we have you to explain it. They're probably just holding it wrong.