How does the increasing use of streaming music services affect the market for compact discs?
A)The demand curve for compact discs shifts to the right.
B)The supply curve for compact discs shifts to the left.
C)The supply curve for compact discs shifts to the right.
D)The demand curve for compact discs shifts to the left.

Question

Quizplus · Accepted Answer

The increasing use of streaming music services suggests that there is a shift in consumer preference towards digital music. This shift in preference decreases the demand for compact discs, and therefore shifts the demand curve to the left. As a result, the market for compact discs would likely experience a decrease in sales and revenues.

How Does the Increasing Use of Streaming Music Services Affect