• Think of a relevant example in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good or service? How did this change affect the market equilibrium for that good or service? Describe the change in the market and explain using microeconomic concepts.
• Use Sony's new Playstation 5 as the example
• Please be specific and explanatory without leaving anything out and using the example provided with a graph regarding the demand and supply and equilibrium