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In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the

In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the previous iPhone model.

  1. How did the introduction of the iPhone 4S affect the Consumer Price Index?
  2. What factors in the calculation of the CPI caused this effect?
  3. Today, Apple has a number of iPhones on the market with a variety of price points. How does this affect the Consumer Price Index?

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