Following the American Psychological Association’s Guidelines
Educational Institution SUPPLY AND DEMAND FOR PLAYSTATION 4 Sony’s Playstation 4 (PS4), sold at $400 during its launch in 2013, was a massive hit with its 4.2 million units sold at the end of the year (Forbes, 2014). Sony’s PS4 outsold its closest competitor, Microsoft’s Xbox which also launched that year by a margin of about 1.2 million units at a higher retail price of $500 () .In this exercise, we look at this product and analyze the demand and supply dynamics revolving it.
Demand and Supply Schedule
We draw a hypothetic schedule and demand for the PS4, as follows. Then we map ...