Piper Gene Munster, the person responsible for a survey dedicated to Apple in which he " found" out an estimated number of IPhones that were sold, has come up with yet another interesting theroy. According to Munsterand the past-week Apple announcement about 1 million IPhones sold, the calculations take to the conclusion that after the price cut,the sales increased up to 200%... By Munster's reckoning, Apple and AT&T were selling an averageof 9,000 IPhones a day before the price reduction, which would have put their quarterly sales at 594,00 as of September 5. By the end of the quarter, he believes Apple will have sold a total of 1.28 million Iphones. What was the price elasticity of demand for IPhones in 2007 prior to the price reduction if the percentage change in price was 40%?
Piper Gene Munster, the person responsible for a survey dedicated to Apple in which he " found" out an estimated number of IPhones that were sold, has come up with yet another interesting theroy.
According to Munsterand the past-week Apple announcement about 1 million IPhones sold, the calculations take to the conclusion that after the price cut,the sales increased up to 200%...
By Munster's reckoning, Apple and AT&T were selling an averageof 9,000 IPhones a day before the price reduction, which would have put their quarterly sales at 594,00 as of September 5.
By the end of the quarter, he believes Apple will have sold a total of 1.28 million Iphones.
What was the price
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