Consider the market for argyle socks. Suppose there is an unsuccessful ad campaign (staring Pee Wee Herman) that decreases the popularity of wearing argyle socks significantly. What effect will the decrease in popularity have on the equilibrium price and quantity of argyle socks, ceteris paribus?
a. Price and quantity will fall b. Price and quantity will rise c. Price will rise and quantity will fall
d. Price will fall and quantity will rise