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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Unit 4A Discussion

Unit 4A Discussion

Q A.4.4.4 Discussion-The Elasticity of Uber's Surge Pricing - Group B 2 From ECON-102-OMH-CRN55774 The Elasticity of Uber's Surge Pricing Uber's Surge Pricing more quickly brings the market into equilibrium as demand data more quickly brings supply into the market area and rations the scare items to the highest bidders until the market "clears." Read the following articles on Uber's pricing models The Microeconomics of Uber’s ‘Surge Pricing’.pdfDownload The Microeconomics of Uber’s ‘Surge Pricing’.pdf The Effects of Ubers Pricing.pdfDownload The Effects of Ubers Pricing.pdf Discussion Question: 1. How does Uber use elasticity to "balance" supply and demand? 2. How does elasticity "decide" who gets the ride? Discussion Question Requirements: Each student is required to post a 150 word response to the question. The student then must post at least a 50 word response to at lease ONE other student post. Post-=4 points. Comment = 2 Points Submit Original Post by the Due Date. Comments are open for four (4) days after the Due Date or until the Available Until Date

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A.4.4.4 Discussion-The Elasticity of Uber's Surge Pricing - Group B 2 Uber's flexibility to balance supply and demand is very high. Because it holds a sizable portion of the market, it can easily adjust its pricing to make sure that it is in line with demand. Since there aren't many other ride-sharing companies, Uber also doesn't have to worry about competing with them for customers. Elasticity is the measure of how much an economy's supply or production may alter in response to a shift in its price. If you want to buy a car and the cost of cars rises, people who want to sell their cars will be eager to do so at higher prices.