SuperTutor

(15)

$15/per page/Negotiable

About SuperTutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Accounting,Business & Finance See all
Accounting,Business & Finance,Economics,Engineering,HR Management,Math Hide all
Teaching Since: Apr 2017
Last Sign in: 327 Weeks Ago, 4 Days Ago
Questions Answered: 12843
Tutorials Posted: 12834

Education

  • MBA, Ph.D in Management
    Harvard university
    Feb-1997 - Aug-2003

Experience

  • Professor
    Strayer University
    Jan-2007 - Present

Category > Economics Posted 17 May 2017 My Price 20.00

continuation of the topic

I need help with my homework please,

 

I have attached the home work assignment and pasted it below...

 

This will be a continuation of the topic of market clearing pricing strategy used by Uber, along with its other dimensions such as the sharing economy.

 

  • In the previous discussion, we considered a situation where Uber can charge a price greater than a traditional cab price for the same trip. In this case, let us consider when Uber charges a market price lower, relative to the Dallas based Cowboy Cab.1) Assume Mr. Smith is a Dallas local and loves to support local producers. Thus, he gains a higher marginal utility (benefit) when he consumes Cowboy cab compared to Uber. However, consider:
  • MU CowboyCab P CowboyCab  <MU Uber P Uber   MUCowboyCabPCowboyCab<MUUberPUber
  • i. Will Mr. Smith choose Uber or Cowboy Cab?
  • ii. What will happen to the marginal utility for that good once it has been consumed. Will it increase or decrease?
  • 2) With the introduction of Uber and Lift into the transportation industry previously run by taxi cabs, consider what has happened to the industry in terms of competition
  • i) Has it become more competitive or more monopolistic?
  • ii) Based off your answer, would you expect the long run economic profits of these firms to decrease?(1) Why or why not?

Attachments:

Answers

SuperTutor
(15)
Status NEW Posted 17 May 2017 02:05 AM My Price 20.00

-----------

Attachments

file 1494988993-Solutions file.docx preview (56 words )
S-----------olu-----------tio-----------ns -----------fil-----------e -----------Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k y-----------ou -----------for----------- yo-----------ur -----------int-----------ere-----------st -----------and----------- bu-----------yin-----------g m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l b-----------e q-----------uic-----------kly----------- on-----------lin-----------e a-----------nd -----------giv-----------e y-----------ou -----------exa-----------ct -----------fil-----------e a-----------nd -----------the----------- sa-----------me -----------fil-----------e i-----------s a-----------lso----------- se-----------nt -----------to -----------you-----------r e-----------mai-----------l t-----------hat----------- is----------- re-----------gis-----------ter-----------ed -----------onÂ----------- th-----------is -----------web-----------sit-----------e. ----------- H-----------YPE-----------RLI-----------NK -----------&qu-----------ot;-----------htt-----------p:/-----------/wo-----------rkb-----------ank-----------247-----------.co-----------m/&-----------quo-----------t; -----------\t -----------&qu-----------ot;-----------_bl-----------ank-----------&qu-----------ot;----------- -----------Tha-----------nk -----------you----------- -----------
Not Rated(0)