Why the consistent drop in the price of mp4 players

Reference no: EM13184626

The price of MP4 players has been going down in the past decade. Give an explanation for this consistent drop in the price of MP4 players. Use the model for long run competitive firm to illustrate your answer.

Draw two graphs. One is to show the long run average cost for the firm. The other is to show the long run supply curve for the industry.

Reference no: EM13184626

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