Multiple Choice
Suppose you observe that fares per trip for the Uber share-riding service increased when more commuters called the Uber service. Which of the following is the best possible explanation?
A) The law of demand was violated.
B) The law of supply was violated.
C) The price of gasoline went up.
D) People were irrational.
E) Commuters did not have any choice.
Correct Answer:
Verified
Correct Answer:
Verified
Q85: If the price of product A falls
Q86: Which of the following statements is false?<br>A)The
Q87: A demand curve is always flat.
Q88: According to the law of demand, one
Q89: Using the supply and demand diagrams (one
Q91: If the price of ice cream decreases,
Q92: The law of demand is represented by<br>A)the
Q93: Which of the following is not an
Q94: Shifts in both the supply of and
Q95: A surplus occurs when there is excess