:Research finds more people are using their phones instead of purchasing standalone GPS units for their vehicles. Responding to changes in consumer preferences, GPS manufacturers are moving from the production of standalone GPS units to wearable GPS devices like smartwatches. Graph the change in the supply and demand curves as it relates to the standalone GPS units. Show changes in price and quantity demand (increase, decrease, or indeterminate).

Scenario 8, Part 2:Economists have quantified the exact changes in supply and demand based on these industry changes. Economists predict a 25% decrease in demand with only a 10% decrease in supply. Graph the change in the supply and demand curves as it relates to the standalone GPS units. Show changes in price and quantity demand (increase, decrease, or indeterminate).