Last week, the local pay TV company lowered the monthly pay TV price because the city council has granted approval for three new pay TV companies to service the area. How is the market for pay TV services affected by this?
A) There is an increase in the supply of pay TV service.
B) There is a decrease in the demand for pay TV service.
C) There is a decrease in the quantity of pay TV service supplied.
D) There is a decrease in the supply of pay TV service.
Correct Answer:
Verified
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