Analyze why IPhone is so expensive from the perspective of western economics. Write a short essay of about 1000 words, and send it to my email at 505 157062@qq.com.
From an economic point of view: (1) products lack substitutes (substitutes of the same quality), and manufacturers can freely control the output and price of products without competition, thus maximizing profits; (2) Because there is no substitute of the same quality to compete, IPHONE can adopt skimming pricing+hunger marketing strategy to get the maximum profit through high price.