1. In the free market system, buyers and sellers interact to set prices (i.e. supply vs. demand), and when perfectly competitive no single buyer or seller can impact price. Late last year, Apple released the newest version of its iPhone and has since released updated versions of the iPhone 6, for which it commands some of the highest prices in the cellular telephone market. Apple predicts that sales will reach 250-million by the end of this year. Discuss whether the Apple iPhone 6 fits with the basic laws of supply and demand, and what external influences may be impacting the iPhone market.
2. During 2014, the largest Ebola epidemic outbreak in history that affected multiple countries in West Africa was in the forefront of the news in the United States. There is no known cure for the virus, and as it is no longer in the forefront of the news, development of a cure and/or vaccine is no longer viewed as a priority in the U.S. Considering the fiduciary responsibility to its shareholders, discuss whether U.S. pharmaceutical companies have a corporate social responsibility to address this epidemic, and what may be the ‘right thing’ for them to do. Begin your post with a definitive statement identifying “yes” or “no” to the fundamental question of corporate social responsibility for Ebola, and then provide justification for the position.
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