According To One News Story The Cost Of Producing 4k

According to one news story, the cost of producing 4K televisions has been declining. According to a second story, many people have switched from watching programs on television sets to watching them on smart-phones, tablets, or laptops. After reading these news stories, a student argues: “From this information, we know that the price of 4K televisions will fall, but we don’t know whether the quantity of television sets sold will increase or decrease.” Is the student’s analysis correct? Illustrate your answer with a demand and supply graph.

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