Consider a competitor's response to a product which has recently come under scrutiny. An example would be the 2016 reaction of supply and demand of Apple's iPhone after theSamsung Galaxy Note 7 exploding battery issue(Links to an external site.)

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How did these problems influence how Apple handled their market? Consider:

• Their labor and potential output and how this influenced GDP.
• Their long and short-run aggregate supply curve
• How people viewed their iPhone purchase within their definition of disposable domestic income
• How the iPhone price level influenced GDP
• The increase or decrease in consumer optimism, and how does this affected the aggregate demand curve