During 2009, the demand f

During 2009, the demand f

During 2009, the demand for LCD televisions appeared to be falling. At the same time some industry observes expected that several smaller television manufacterers might exit the market. Use a demand and supply graph to analyze the effects of these factors on the equilibrium price and quantity and the new equilibrium price and quantity of LCD televisions. clearly show on youre graph the old equlibrium price and quantity. Can you tell for certain whether the new equlibrium price will be higher or lower than the old equilibrium price?briefly explain.

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