The market for Sony's Playstation5 game console has changed from 2021 to 2023. With restrictions from the Covid-19 pandemic ending people are finding other entertainment options available such as concerts, movies, and travel. Additionally, the microchip shortage is beginning to lessen, the custom-made AMD Zen 2 chip used in the PS5 has been decreasing in cost. Identify the appropriate market conditions and draw a clear graph to illustrate the market for Sony's Playstation5 game consoles in 2023 as compared to 2021. 1. Explain which non-price determinant(s) of demand and/or supply are changing. 2. Draw a graph on a piece of paper - label all axes, lines, and equilibriums. Include all relevant information. 3. Explain what is happening in the market with regard to equilibrium price and equilibrium quantity.

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