pose - e The diagram at right shows the market for smartphones. In recent years. technological improvements have greatly Market for Smartphones reduced the costs oi producing smartphones. and a number of new rms have entered the smartphone industry. At the same time, prices of substitutes for smartphones, such as various tablet devices. have declined considerably. Using the line drawing tool. illustrate the impacts of these developments on both the demand and supply. Label the new lines. Carefully follow the instructions above, and only draw the required objects. The equilibrium market price will decrease The equilibrium market quantity will change in an indeterminate way