They are saying iPhone demand is less responsive to price over time, but I disagree.
Income shifts the demand curve. Higher income exposes preference to more expensive phones, which makes it appear the consumer doenst care about price when in reality they have the same preference just scaled by income.
And it doesnt look sustainable, either, because the latest apple phones are price cut. There's additional factors like financing availability and competing products that make this not useful as a demand elasticity.
Am I right or they?