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Recent news stories suggest that the cost of producing 4K OLED televisions has been declining. However, many

people have switched from watching programs on television sets to watching them on smartphones, tablets, or laptops. After learning of these trends, a student argues: "From this information, we know that the price of 4K OLED televisions will fall, but we don't know whether the quantity of 4K OLED television sets sold will increase or decrease."

Is the student's analysis correct? Explain.

Be sure to conduct your examination of this topic using demand and supply analysis.

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