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Examining the Global Environment for Apple

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Examine how contemporary trends in the global environment might impact final recommendations for Apple.

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The solution presents trends in the global environment that has impact on Apple's production plant in Armenia. These global issues may apply to any firm that operates in a global environment.

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Economics in a Global Environment

Details: Suppose the price of apples rises from $3.50 a pound to $4.00 and your consumption of apples drops from 30 pounds of apples a month to 20 pounds of apples. Calculate your price elasticity of demand of apples. What can you say about your price elasticity of demand of apples? Is it Elastic, Inelastic, or Unitary Elastic? Be sure to show the work you used to support your answer.

Calculate the elasticity of demand and explain the meaning of the calculation. State the factors that determine the factors that generate the elasticity of demand.Note that the elasticity is a ratio of two percent changes: one for price and one for quantity demanded. As you examine your answer, note that elasticity of demand is the ratio of TWO SEPARATE percent changes.

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