Consider the market for HDTVs. Draw a supply and demand diagram that shows the effect on the equilibrium price and equilibrium quantity of HDTVs if computer chips (an input into the production of HDTVs) decrease in price. Remember: Supply and demand diagrams must be properly and fully labeled. Diagrams without the full set of proper labels will not earn you full credit, if any. No verbal analysis or comments are necessary if your diagram is fully and properly labeled.