The cost of producing flat-screen TV’s has fallen over the past decade. Let’s considersome implications of this fact.

The cost of producing flat-screen TV’s has fallen over the past decade. Let’s considersome implications of this fact.a. Draw a supply-and-demand diagram to show the effect of falling production costson the price and quantity of flat-screen TVs sold.b. In your diagram, show what happens to consumer surplus and producer surplus.c. Suppose the supply of flat-screen TVs is very elastic. Who benefits most fromfalling productions costs- consumers or producers of these TV’s

 
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