Mike notices that taking an Uber (a ride-sharing service where price fluctuates with supply and demand) from his law firm's office in the city to his home normally costs $8 Monday to Thursday nights (x1 rate). But on Friday nights, as there are many people in the city drinking, the Uber costs up to $20 (x2.5 rate).

Which of the following statements are true:

Ceteris paribus, there should be more Ubers driving around on a Friday night due to the increased prices according to the law of supply.

Ceteris paribus, Mike is less likely to order an Uber (individual demand) on a Friday night and instead ride his bike home.

Ceteris paribus, an Uber driver's working hours (individual quantity supplied) will remain constant every day, no matter the price, according to the law of supply.

Ceteris paribus, an economist would say Mike will be more inclined to take an Uber when there is less market demand.

unanswered