Uber, the peer-to-peer ridesharing and transportation company, has a price hike mechanism called “surge pricing,” which causes the minimum fare and per-kilometer fare to increase above the normal level. For example, in India, Uber drivers agree that the maximum multiple is 1.2 x, which means a 20 percent “surge” in fares. Assume that the average number of passengers per hour is 20. During rush hour in New Delhi, the number of passengers increases to 100 per hour. Consequently, Uber drivers raise the fares by 20 percent. If the fare increases, what will happen to demand? Illustrate with supply and demand curves.