Consider a market for DVD players. Assume there are a downward sloping demand curve and an upward sloping supply curve for DVD players. Each of the statements will change this equilibrium point by shifting either the demand or supply curve. Explain what will happen to the equilibrium price and quantity in the market for DVD players if the following changes occur. Assume that there are no other changes in this market other than the stated change.

1. Manufacturers have a new technology and thus the production cost for DVD players is reduced by 40%.
2. Netflix, an internet file sharing company that allows people to share movie files, is allowed to operate. Access to Netflix allows people to play movie without possessing the DVD of that movie.
3. The price of each DVD disc decreases.
4. There is a huge increase of the number of immigrants this year and each immigrant wants to have a DVD player. At the same time, all the workers who produce DVDs are on strike and win the negotiation; as a result of which, these workers' wage increased.
5. The production cost of DVD players reduces. At the same time, the yearly subscription fee for Netflix increases.