Leticia is an Uber driver who works at night. Last night, there was a large decrease in the number of Uber drivers willing to work. How will this change in supply affect the equilibrium, all else equal? O Equilibrium price falls and quantity falls O Equilibrium price rises and quantity rises O Equilibrium price falls and quantity rises O Equilibrium price rises and quantity falls
Leticia is an Uber driver who works at night. Last night, there was a large decrease in the number of Uber drivers willing to work. How will this change in supply affect the equilibrium, all else equal? O Equilibrium price falls and quantity falls O Equilibrium price rises and quantity rises O Equilibrium price falls and quantity rises O Equilibrium price rises and quantity falls
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Leticia is an Uber driver who works at night. Last night, there was a large decrease in
the number of Uber drivers willing to work. How will this change in supply affect the
equilibrium, all else equal?
O Equilibrium price falls and quantity falls
O Equilibrium price rises and quantity rises
O Equilibrium price falls and quantity rises
O Equilibrium price rises and quantity falls
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