Uber is a ride-sharing business that is revolutionizing the taxi-market. First, make sure you understand how Uber works by going to their website (Uber.com) and their competitors (Lyft and Sidecar).
Then answer the following questions: Explain the economics of the taxi medallion system. This is discussed in the text and in numerous places on the web. Why did cities start the medallion system? Do you think it is a good idea? Explain the economics of ride-sharing firms such as Uber. There's a lot of resources on the web, such as http://www.economist.com/news/finance-and-economics/21599766-microeconomics-ubers-attempt-revolutionise-taxi-markets-pricing-surge (Links to an external site.) http://economicstudents.com/2014/08/the-economics-of-uber/ (Links to an external site.) http://www.bruegel.org/nc/blog/detail/article/1445-the-economics-of-uber/ (Links to an external site.) http://www.nytimes.com/2015/06/28/upshot/in-an-uber-world-fortune-favors-the-freelancer.html?_r=0 (Links to an external site.) 3. Should the government regulate Uber? Explain your answer. Each of the following questions will involve your analysis of the advantages of a competitive market to both producers and consumers. Use the concepts learned in the chapters on perfect competition, monopoly, and imperfect competition to answer the questions.
Uber is a ride-sharing business that is revolutionizing the taxi-market. First, make sure you understand how Uber works by going to their website (Uber.com) and their competitors (Lyft and Sidecar).
Then answer the following questions: Explain the economics of the taxi medallion system. This is discussed in the text and in numerous places on the web. Why did cities start the medallion system? Do you think it is a good idea? Explain the economics of ride-sharing firms such as Uber. There's a lot of resources on the web, such as http://www.economist.com/news/finance-and-economics/21599766-microeconomics-ubers-attempt-revolutionise-taxi-markets-pricing-surge (Links to an external site.) http://economicstudents.com/2014/08/the-economics-of-uber/ (Links to an external site.) http://www.bruegel.org/nc/blog/detail/article/1445-the-economics-of-uber/ (Links to an external site.) http://www.nytimes.com/2015/06/28/upshot/in-an-uber-world-fortune-favors-the-freelancer.html?_r=0 (Links to an external site.) 3. Should the government regulate Uber? Explain your answer. Each of the following questions will involve your analysis of the advantages of a competitive market to both producers and consumers. Use the concepts learned in the chapters on perfect competition, monopoly, and imperfect competition to answer the questions.
