Describe what has happened to the supply and demand curves for Knight DVRs in 2012. Hint: plot out the supply and demand curves and new demand curve (after price of gasoline rose). What is the new equilibrium price? How many DVRs will be produced at the new equilibrium price? Knight revised its estimate of the amount of product demanded for 2012 as described above. In 2013 a new technology become available enabling DVRs to communicate over cell phones and the Internet. Knight’s competitors are selling this new DVR, called SuperDVR, for $150. What will happen to the supply and demand curves for Knight DVRs now?