Uber, an online peer-to-peer ride-sharing service company, has figured out a way to lower the overall operating cost and price of taxi-driving and has improved the matching between riders and drivers. Thus, being able to produce more rides or total output with their new technology. Taxi drivers in New York argue that Uber's entrance to the market has made it difficult for traditional taxi-drivers to compete and believe that Uber is bad for the economy. Suppose that more jobs were lost than gained and suppose that the level of income earned between Uber drivers and traditional taxi drivers is about the same. Considering all given economic information, which is true? O Uber is good for the economy and it would shift our PPF to the left. O Uber is bad for the economy and it would shift our PPF to the left. Uber is good for the economy and it would shift our PPF to the right. O Uber is bad for the economy and it would shift our PPF to the right.

Uber, an online peer-to-peer ride-sharing service company, has figured out a way to lower the overall operating cost and price of taxi-driving and has improved the matching between riders and drivers. Thus, being able to produce more rides or total output with their new technology. Taxi drivers in New York argue that Uber's entrance to the market has made it difficult for traditional taxi-drivers to compete and believe that Uber is bad for the economy. Suppose that more jobs were lost than gained and suppose that the level of income earned between Uber drivers and traditional taxi drivers is about the same. Considering all given economic information, which is true? O Uber is good for the economy and it would shift our PPF to the left. O Uber is bad for the economy and it would shift our PPF to the left. Uber is good for the economy and it would shift our PPF to the right. O Uber is bad for the economy and it would shift our PPF to the right.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 9QP

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