Apples new iPhone 6 sold out quickly in the United States and to avoid the same outcome
Question:
Apple’s new iPhone 6 sold out quickly in the United States and to avoid the same outcome in other national markets, Samsung and LG cut the prices of their Galaxy and V10 smartphones by over 10 percent.
Will a price cut by Samsung and LG increase their total revenue? If Apple also cuts its prices, what will happen to the total revenue from all smartphone sales?
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Step by Step Answer:
The Apple 6s Galaxy S6 and LG V10 offer similar features and functions so they are close substit...View the full answer
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