Consider the following statement: “An increase in the cost of oil will cause the price of a plane ticket to increase. This increase
in price will cause a decrease in demand for airline travel and a leftward shift in the demand curve."
What is the flaw of this reasoning?
O A decrease in demand will shift the curve rightward, not leftward.
O The increase in the cost of oil will cause a decrease in the price of a plane ticket.
O The cost of oil affects supply and not demand so prices of tickets will remain the same.
O An increase in the sice of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.

Question

jakhari03 jakhari03

24-09-2021
Business

contestada

Consider the following statement: “An increase in the cost of oil will cause the price of a plane ticket to increase. This increase
in price will cause a decrease in demand for airline travel and a leftward shift in the demand curve."
What is the flaw of this reasoning?
O A decrease in demand will shift the curve rightward, not leftward.
O The increase in the cost of oil will cause a decrease in the price of a plane ticket.
O The cost of oil affects supply and not demand so prices of tickets will remain the same.
O An increase in the sice of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.

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ewomazinoade ewomazinoade · Answer 1 · 2022-02-08T13:18:54+01:00

The flaw in the reasoning is an increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.

When is there a change in quantity demanded?

There is a change in quantity demanded when the price of a good changes. For example, if the price of plane tickets increase, there would be a decrease in quantity demanded for airplane travel.

There is a change in demand when other factors except for the price of a good change. For example, if there is a news that airplane travel increase lifespan, there would be an increase in demand for airplane travel.

For more information about the change in demand, please check: https://brainly.com/question/25871620