What is an increase in competition likely to do to the demand?
a. increase the demand
b. decrease the demand
c. make the demand less elastic
d. make the demand more elastic

I know that if there is more computation then the price might go down because people are most likely to buy products that are cheaper in price.
Lets say that there is a ps4 on sell at Best Buy that the ps4 price now droped by $30 but the XboX ones price still stayed the same people are going to want to buy the ps4 now instead of the Xbox one, now XboX are going to have to drop there price down to keep up on sales.