Archive for November 27th, 2007
Playstation Price Elasticity
Tuesday, November 27th, 2007Video game players apparently have a very high price elasticity of demand for the Playstation 3. According to Bloomberg.com:
PlayStation 3 sales have quadrupled since the company cut the price to $499 from $599 and introduced a $399 model, Otzman said. Wii has been the top-selling console since its introduction a year ago.
Close substitutes are […]