The price of the typical MP3 player (such as the iPod) has been going down in the past 10 years. What could explain this consistent drop in the price of MP3 players? Use the model for the long-run competitive firm to illustrate your answer (hint: you need two diagrams here: one showing the LAC for the typical firm, and another showing the long-run supply curve for the industry.)

Please create an original graph and an explanation would be helpful. There is an answer on CourseHero that has no explanation and the graph looks like it was copied from the answer key. Thank you.