What happens to demand, price, and quantity for Uber rides when: 1 Incomes increase and Uber...
What happens to demand, price, and quantity for Uber rides when:
1 Incomes increase and Uber rides are a normal good.
2 People purchase more cars, a substitute for Uber rides.
a. decrease, increase, decrease
b. increase, increase, increase
c. decrease, decrease, decrease
d. increase, decrease, increase
Homework Answers
Ans1) the correct option is b. increase, increase, increase
When income increases, demand increases because more people will demand uber rides so price and quantity increase.
Ans2) the correct option is c) decrease, decrease, decrease
When people buy more cars, demand for uber rides will decrease which further decrease the price and quantity
Add Answer to:
What happens to demand, price, and quantity for Uber rides
when:
1 Incomes increase and Uber...
1) The law of demand indicates that as the price of a good decrease, the quantity...
1) The law of demand indicates that as the price of a good decrease, the quantity A. Buyers desire increase B. Buyers desire decrease C. Producers offer to the market decreases D. Producers offer to the market increase 2) List all the factors of demand and explain 4. 3) Substitute good are ones in which an increase in the A. Price of one good leads to an increase in the demand for the other good B. Price of one good...
12. A "decrease in the quantity demanded" means that a. the demand curve has shifted to...
12. A "decrease in the quantity demanded" means that a. the demand curve has shifted to the right. b. the supply curve has shifted to the left. C. price has declined and consumers therefore want to purchase more of the good. d. price has increased and consumers therefore want to purchase less of the good. 13. Which of the following pairs of goods would be most likely to be complements in consumption? a. olive oil and vegetable oil b. peanuts...
What would happen to the equilibrium price and quantity of lattés if consumers' incomes rise
What would happen to the equilibrium price and quantity of lattés if consumers' incomes rise. Assume that lattés are a normal good? Both the equilibrium price and quantity would increase. b. Both the equilibrium price and quantity would decrease. c. The equilibrium price would increase, and the equilibrium quantity would decrease. d. The equilibrium price would decrease, and the equilibrium quantity would increase.
24) An increase in the demand for bananas will NOT be caused by: A) a rise...
24) An increase in the demand for bananas will NOT be caused by: A) a rise in the price of apples. B) news that bananas help relieve stress in people buyers switching to a more healthy diet. D) a drop in the market price of bananas. 25) 26) If the demand for a good increases when there is high unemployment, we can conclude that the commodity is: 26) A) a good for which the law of demand does not apply...
10. According to the language used in this class, an increase in the price of a...
10. According to the language used in this class, an increase in the price of a good will a. increase demand b. decrease demand. c. increase quantity demanded. d. decrease quantity demanded. 11. When the price of peaches changes, the demand curve for peaches a. shifts because the price of peaches is measured on the vertical axis of the graph. b. shifts because the quantity demanded of peaches is measured on the horizontal axis of the graph. c. does not...
In Pioneer Ville, the price elasticity of demand for bus rides is 0.8, the income elasticity...
In Pioneer Ville, the price elasticity of demand for bus rides is 0.8, the income elasticity of bus rides is -1.2 and cross price elasticity of demand for bus rides with respect to gasoline is 1.1. a) Is the demand for bus rides elastic or inelastic? Why? b) Would an increase in the price of bus rides increase the bus companys total revenue? Explain your answer. c) If incomes increase by 5 percent with no change in prices, how will...
43. If price rises, what happens to quantity supplied for a product? a. It increases. b....
43. If price rises, what happens to quantity supplied for a product? a. It increases. b. lit decreases. c. It does not change. d. Quantity supplied is constant, but supply increases 44. How will a decrease in price tend to affect supply? a. Supply will increase. 1. Supply will decrease. c. Supply will not change. d. Uncertain. 45. The amount of a good sold in a market at a particular price cannot exceed the quantity a. demanded at that price....
3) The law of demand includes the statement other things being equal." These other things include...
3) The law of demand includes the statement other things being equal." These other things include all of the following EXCEPT A) the price of related goods. B) incomes. tastes D) the price of the good itself. 3) John believes that when the price of a good increases people will purchase more of the good. This statement is A) consistent with the law of supply. B) consistent with the law of demand. referring to money prices. D) inconsistent with the...
1. Which of the following is a reason the demand for gasoline might increase? a. The...
1. Which of the following is a reason the demand for gasoline might increase? a. The price of new and used cars falls by 20%. b. Incomes fall and gasoline is a normal good. c.The price of sodas increase. d.The cost of car insurance increases by 50%. e. All of the above can cause an increase in the demand for gasoline. 2. If both demand and supply decrease, price a. will always increase b. will always decrease c. might increase...
Exhibit 4-4 Supply and demand curves for good X Pue Qty Gay) 5. An increase in...
Exhibit 4-4 Supply and demand curves for good X Pue Qty Gay) 5. An increase in the wage rate paid to workers producing good X would be represented by which of the graphs in Exhibit 4.4? a. Graph A. b. Graph B. c. Graph C. d. None of the above. 6. Which of the following would raise both the equilibrium price and the equilibrium quantity of strawberries? a. A decrease in the supply of strawberries. b. An increase in the...
12. A "decrease in the quantity demanded" means that a. the demand curve has shifted to the right. b. the supply curve has shifted to the left. C. price has declined and consumers therefore want to purchase more of the good. d. price has increased and consumers therefore want to purchase less of the good. 13. Which of the following pairs of goods would be most likely to be complements in consumption? a. olive oil and vegetable oil b. peanuts...
24) An increase in the demand for bananas will NOT be caused by: A) a rise in the price of apples. B) news that bananas help relieve stress in people buyers switching to a more healthy diet. D) a drop in the market price of bananas. 25) 26) If the demand for a good increases when there is high unemployment, we can conclude that the commodity is: 26) A) a good for which the law of demand does not apply...
10. According to the language used in this class, an increase in the price of a good will a. increase demand b. decrease demand. c. increase quantity demanded. d. decrease quantity demanded. 11. When the price of peaches changes, the demand curve for peaches a. shifts because the price of peaches is measured on the vertical axis of the graph. b. shifts because the quantity demanded of peaches is measured on the horizontal axis of the graph. c. does not...
43. If price rises, what happens to quantity supplied for a product? a. It increases. b. lit decreases. c. It does not change. d. Quantity supplied is constant, but supply increases 44. How will a decrease in price tend to affect supply? a. Supply will increase. 1. Supply will decrease. c. Supply will not change. d. Uncertain. 45. The amount of a good sold in a market at a particular price cannot exceed the quantity a. demanded at that price....
3) The law of demand includes the statement other things being equal." These other things include all of the following EXCEPT A) the price of related goods. B) incomes. tastes D) the price of the good itself. 3) John believes that when the price of a good increases people will purchase more of the good. This statement is A) consistent with the law of supply. B) consistent with the law of demand. referring to money prices. D) inconsistent with the...
Exhibit 4-4 Supply and demand curves for good X Pue Qty Gay) 5. An increase in the wage rate paid to workers producing good X would be represented by which of the graphs in Exhibit 4.4? a. Graph A. b. Graph B. c. Graph C. d. None of the above. 6. Which of the following would raise both the equilibrium price and the equilibrium quantity of strawberries? a. A decrease in the supply of strawberries. b. An increase in the...
Most questions answered within 3 hours.
-
Write a program to prompt the user for hours and rate per hour
using input to...
asked 26 seconds from now -
Hi, please help
1)Draw two molecules that could hydrogen bond with each other.
Draw and indicate...
asked 3 minutes ago -
Using Java, I created 3 files, Pizza,PizzaOrder, and
PizzaOrder_Demo that I attached down below. But I...
asked 2 minutes ago -
a. An 8-bit successive approximation ADC has a reference voltage
of 10 V. Calculate the resolution...
asked 12 minutes ago -
The distance between the two hydrogen nuclei in the H2 molecule
is 110 pm (picometer). How...
asked 14 minutes ago -
write an article about drone effect on
construction safety.
asked 17 minutes ago -
Consider the following data for a dependent variable y and two
independent variables, x1 and x2....
asked 1 hour ago -
what is the most likely shape for a distribution with a mean of
40 and a...
asked 28 minutes ago -
The work function, Φ0 (or W0), for cesium is 3.43×10−19 J. The
frequency of a photon...
asked 34 minutes ago -
18.54----At the surface of Venus the average temperature is a
balmy 460 ∘C due to the...
asked 33 minutes ago -
#1. A food has been ingested. Identify all of the anatomic
structures and substructures it travels...
asked 26 minutes ago -
Grommit Engineering expects to have net income next year of $
29.71 million and free cash...
asked 35 minutes ago