With the aid of supply and demand diagrams explain how and, Business Economics

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With the aid of supply and demand diagrams explain how and

With the aid of supply and demand diagrams, explain how and why each of the following is likely to affect the price and quantity in the market for Compact Discs (CDs).

(a) A technical break-through reduces the cost of producing CDs.

(b) A technical break-through reduces the cost of producing CD-players.

(c) A technical break-through reduces the cost of MP3-players.

(d) Technical innovations increase the availability of free music streaming through services such as Pandora, Jango, iHeartRadio, and Amazon’s Prime Music.

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