Engineering, 04.03.2020 02:32 tyrareed702
The growth of ride-sharing services such as Uber and Lyft has generated much discussion in the news. Drivers operate as independent businesses, working as many hours as they choose and earning a portion of the fares set by the company. However, during periods of high demand, the market price increases (such as "surge" pricing by Uber). Note, that a competitive firm cannot change the price based on demand. However, Uber claims it is a competitive firm. Provide a few reasons why ride-sharing companies share the characteristics of a perfectly competitive industry.
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The growth of ride-sharing services such as Uber and Lyft has generated much discussion in the news....
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