Multiple Choice
Suppose that the market for ride-sharing services is initially in long-run equilibrium. Subsequently, a decrease in population decreases the demand for rides. In the short run, the price of rides will _____, and the number of rides offered by a typical ride-sharing firm will _____.
A) rise; rise
B) rise; fall
C) fall; rise
D) fall; fall
Correct Answer:
Verified
Correct Answer:
Verified
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