You just took an Uber from home to campus for the first time and were willing to pay $13 for the trip. It was so much easier than driving yourself that you are willing to pay $21 for the same trip tomorrow. Determine if you have violated the law of demand based on your choices, and why or why not that is the c

Tastes and preferences are one of the determinants of demand. The way a person feels about a product can determine if they want more of it or less and this therefore affects demand for products.

You preferred the Uber ride to driving yourself and so were willing to pay more for it so the law of demand was not violated.

andromache andromache · Answer 2 · 2022-02-01T14:02:11+01:00

a.do not violate the law of demand because your preference for the product changed after you experienced the good.

Law of demand:

Tastes and preferences represent determinants of demand. here we preferred the Uber ride to driving yourself and due to which we are willing to pay more for it . Thus, the law of demand was not violated. Also law of demand show the inverse relationship between the price and quantity demanded.

This is an incomplete question. Here are the given options.

Options for this question include;

a.do not violate the law of demand because your preference for the product changed after you experienced the good.

b.do violate the law of demand because the law of demand states that quantity demanded decreases as price increases.

c.do not violate the law of demand because the law of demand states that quantity demanded increases as price increases.

d.do violate the law of demand because you have chosen to buy the same amount of the product at two different prices.

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