Over the past decade, cruise lines have dramatically increased their number of megaships (those that carry 3,000 passengers or more), increasing the supply of cruises. at the same time, the popularity of cruising has increased among consumers, increasing demand. what must happen for the average price to decrease?

increase supply greater than demand.

supply and demand should increase at the same rate.

nothing; average price will decrease with the implied changes in supply and demand.

increase demand greater than supply.

The law of supply and demand would state that if supply grows faster than demand, prices will trend downward. In this case, the cruise line would need to add more ships than people who want to go on those ships.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; im thinking the correct answer is (7years);