1 - [20 marks @ 5 marks each part] Chapter 7 1. One of the largest changes in the economy over the past several decades is that technological advances have reduced the cost of making computers. a. Draw a supply-and-demand diagram to show what happened to price, quantity, consumer surplus, and producer surplus in the market for computers. b. Several decades ago, students used typewriters to prepare papers for their classes; today they use computers. Does that make computers and typewriters complements or substitutes? Use a supply-and-demand diagram to show what happens to price, quantity, consumer surplus, and producer surplus in the market for typewriters. Describe what has happened to producer surplus in the typewriter market over the last several decades. c. Are computers and software complements or substitutes? Draw a supply-and-demand diagram to show what happened to price, quantity, consumer surplus, and producer surplus in the market for software. Describe what has happened to producer surplus for software producers. d. Does this analysis help explain why software producer Bill Gates is one of the world's richest men