A news story states that "DVDs lose their appeal as consumers switch to online streaming for movies." In a competitive market for DVDs, this situation would lead to a(n) :
A) Increase in the price and the quantity sold of DVDs
B) Decrease in the price and the quantity sold of DVDs
C) Increase in the price and a decrease in the quantity sold of DVDs
D) Decrease in the price and an increase in the quantity sold of DVDs
Correct Answer:
Verified
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