When Sony introduced its new PlayStation 3 game system,buyers who could not get them the first day bid up the price of the systems on eBay and other auction sites.As Sony provided more PlayStation 3 units to the market and early demand was satisfied,prices dropped because:
A)the way consumers perceived their value changed.
B)Sony fully understood its value to consumers.
C)variable costs became constant and fixed costs increased.
D)everyday low pricing neutralized the impact of price on consumers' purchase decisions.
E)all of the above.

Question

Quizplus · Accepted Answer

The high prices on auction sites were a result of early demand and consumers' perception of the limited availability and high value of the system. As supply increased and demand was satisfied, consumers' perception of the value changed, leading to a drop in prices. The other options are not relevant to this scenario.

When Sony Introduced Its New PlayStation 3 Game System,buyers Who