Using  a Supply-Demand diagram, explain how each of the following events will affect the market of DVD rentals. Describe the change in the equilibrium price and quantity. a) Online streaming technology allows people to watch TV programs and movies more comfortably online. b)The cost of making DVDs has gone down due to cheaper discs.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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Using  a Supply-Demand diagram, explain how each of the following events will affect the market of DVD rentals. Describe the change in the equilibrium price and quantity.

a) Online streaming technology allows people to watch TV programs and movies more comfortably online.

b)The cost of making DVDs has gone down due to cheaper discs.

 

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