the effect on the market for CD's of technological improvement that lowers the cost of producing cd players

Question

draw supply and demand diagram to illustrate the effects on market price and quantity. [initial demand curve (d1), initial supply curve (s1) initial price (p1), initial quantity (q1), new demand curve (d2), new supply curve (s2), final price (p2), final quantity (q2) ]

Answer 1

The demand is already lower, given the rampant use of MP3s in the last decade. Have fun.