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i Chrome File Edit View History Bookmarks People Window Help ! 70961, Tue 8:51 PM a E / O Quiz: Chapter 3 Quiz Principles of Macroeconomic × G Suppose you observe that faxiDECON101 2008 Midterm 1 pdt × Q ECON Chapt 11 Flashcards x C secure https://coastdistrict,instructure.com/courses/39744/quizzes/1 22102/take/questions/2308138 Int-Spr18 Orange Coast Question:s Started: Jan 9 at 8:33pm Quiz Instructions Courses Question 5 1 pts Grades Syllabus People 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? Time Running: Hide Attempt due: Jan 9 at 9:33pm 42 Minutes, 9 Seconds Inbox O People were irrational. O The law of demand was violated. Commuters did not have any choice. O The law of supply was violated. O The price of gasoline went up. Previous Next

Solution

Answer: B:

Explanation: The law of demand states that other factors remaining constant if prices of any product or service increases than the demand of that will decrease.