From 2005 to 2015, the number of late-night music clubs in the UK decreased from 3144 to 1733. It was claimed that this happened because planning regulations raised clubs’ costs and because social media provided more alternative ways of meeting people. How would the impact of these causes be represented on a demand and supply diagram for admission to late-night music clubs?
- Amovement down the supply curve; shift of demand curve to left
- Bmovement up the supply curve; movement up the demand curve
- Cshift of supply curve to left; shift of demand curve to left
- Dshift of supply curve to right; shift of demand curve to right