The iPhone costs billions of dollars to develop. Discuss why this product is available to the average person in the United States
Please provide the best answer for the statement.
The iPhone is affordable to the average individual in the United States due to mass production and mass distribution. The research and development costs of the iPhone are fixed. This means once the product has been produced these fixed costs can be spread across all iPhones made. The marginal cost of producing and shipping one item is low.
Economics
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Suppose that the price of capital falls. Does this necessarily imply that the demand for laborwill fall? Explain
What will be an ideal response?
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The goal of all regulation is the creation of perfectly competitive markets
a. True b. False Indicate whether the statement is true or false
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