Answer to Question #187562 in Microeconomics for alreem

Question

.     Explain what Uber and Careem would like to happen to oil prices in the future and why.                                                                                                            (2 marks)

Answer 1

 Uber and Careem would like the oil prices to decline in future. This is because increase in the oil prices will make them increase prices they charge their customers on Uber and Careem which will lead to decreased demand of uber and Careem services.