Mia’s Supply and Demand Assignment

Market: Oculus Rift

Source: http://www.gamespot.com/articles/price-drop-for-oculus-rift-touch-controller-begins/1100-6448323/

As of March 1st, 2017 the Oculus Rift is reducing its  headsets price from $800 to $600. This $200 decrease in price can most likely be held accountable by an increasing demand for Playsation’s VR headset competitively priced at also $800 . The best demand determinant to describe this for the market of the Oculus Rift headset would be due to the its price of the substitute before the Rift’s price drop. As more and more people are willing to try out the incoming technology of virtual reality but not pay the large price, the PlayStation VR offers an alternative to those who already own a PlayStation and do not have a powerful PC to run the Oculus. The left shift demand of the Rifts causing the price for the units to drop by 25% as well as a decreased quantity demanded in order for its substitute to be the less desirable choice.

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