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On June 29, 2007, Apple released the initial iPhone. Thousands of people waited in line for...

On June 29, 2007, Apple released the initial iPhone. Thousands of people waited in line for hours and were willing to pay $600 for the 8 GB model. About two months later, Apple reduced the price of the iPhone by $200. A customer who paid the higher price for the iPhone named Dongmei Li sued Apple for $1 million, claiming that Apple engaged in illegal price discrimination.

a. Why did Apple charge a higher price to customers who purchased the iPhone within the first few months of its release?

b. Were Apple’s actions were illegal? What do you think the outcome of the case was?

c. Apple voluntarily offered a $200 rebate to all customers who purchased the iPhone before it was discounted. Why did they do this?

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