In the world of electronics overtime people realized the immense use of having a personal laptop. And at the same time the technology has improved significantly in last decade. In fact the technological improvement has surpassed the increase in willingness and ability to purchase a laptop. Given this piece of information, what in your opinion happened to the equilibrium price and quantity in market for personal laptop? Draw a diagram and explain your answer.
The question belongs to Economics, Micro-economics and it discusses about a question is about the equilibrium price and quantity market for personal laptop. Diagrams have been given to illustrate the same.
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