ECS1500
Assignment 3 Semester 1 2024
Detailed Solutions, References & Explanations
Unique number: 638823
Due Date: 27 May 2024
QUESTION 1 (2 ANSWERS PROVIDED)
The release of the new popular video game will increase the demand for SUPER
CONSOLE, as more people will want to play the game and will need the specific console
to do so. This will shift the demand curve for SUPER CONSOLE to the right, leading to an
increase in the equilibrium quantity and price of the console. The popularity of the game as
a birthday and Christmas gift will further drive up the demand for the console during these
times. As a result, the market for SUPER CONSOLE will experience increased sales and
potentially higher profits for the console manufacturer.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
Assignment 3 Semester 1 2024
Detailed Solutions, References & Explanations
Unique number: 638823
Due Date: 27 May 2024
QUESTION 1 (2 ANSWERS PROVIDED)
The release of the new popular video game will increase the demand for SUPER
CONSOLE, as more people will want to play the game and will need the specific console
to do so. This will shift the demand curve for SUPER CONSOLE to the right, leading to an
increase in the equilibrium quantity and price of the console. The popularity of the game as
a birthday and Christmas gift will further drive up the demand for the console during these
times. As a result, the market for SUPER CONSOLE will experience increased sales and
potentially higher profits for the console manufacturer.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
