Question

The market price of airline flights increased recently. Some economists suggest that the price increased because jet fuel is much more expensive than before. As a result, they believe that, in the market for flights: a. demand decreased. b. supply increased. c. demand increased. d. supply decreased.

Answer 1

The economists evaluating the price increase in airline flight price most likely believe that a. demand decreased.

Why do economists believe that demand decreased?

The law of demand says that people will demand more of a good when the price is lower and vice versa.

This means that with the rise in the market price of airline flights, there will be a drop in demand.

Find out more on the law of demand at https://brainly.com/question/24500422.

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