One of the main things we are trying to understand here in this first section is how the market works, and what causes it to fluctuate. More than this, we also see that output levels and how we measure them are affected as well.
Your assignment is to pick your favorite product or service (i.e. iPhone, Xbox, Chevy Camaro, Disneyland, etc.) and describe what aspects of it make you feel you do (or could) expend resources to meet the market price. Make sure to answer these three questions:
1. Do you feel the price is priced at equilibrium?
2. What companion goods/services will correlate to your choice.
3. What decisions could make it more valuable to consumers while making it less appealing to producers?
-or-
What could make it more appealing to producers while making it less attractive to consumers?
2 pages, double spaced. Please cite sources.
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