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.
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All of the following are elements in the structure of the Fed EXCEPT the
A) 12 Federal Reserve Banks. B) presidents of the 12 Federal Reserve Banks. C) Executive Council to the Governor. D) Board of Governors. E) Federal Open Market Committee.
If the MPS = .25, and investment falls from $100 to $75, real GDP will decrease by:
A. $75. B. $100. C. $125. D. $150.
Recall the Application about fire protection and the median-voter rule to answer following question(s).In the Application, an increase in the fire rating from 9 to 10 will result in:
A. a higher average fire insurance premium of the rural community. B. a lower average fire insurance premium of the rural community. C. no change in the average fire insurance premium of the rural community. D. refunds to the fire insurance premium paid over the last 5 years.
According to the Laffer curve, as tax rates increase, tax revenues
A. rise continuously. B. decrease continuously. C. initially increase and then decrease. D. initially decrease and then increase.