Asked by
Joshua Wright
on Nov 25, 2024
Verified
Uber's dynamic pricing
A) prevents regulated taxi drivers from changing their fares.
B) keeps the market for rides in equilibrium by constantly adjusting fares to supply and demand conditions.
C) creates long wait times for consumers wanting rides at peak demand times.
D) results in ride pricing that is unfair to consumers.
Dynamic Pricing
Dynamic pricing is a strategy where businesses set flexible prices for products or services based on current market demand.
Equilibrium
A condition where the supply and demand in the market are equal, leading to steady prices.
- Comprehend the principle of dynamic pricing and its implementation in practical contexts.
Verified Answer
CS
Learning Objectives
- Comprehend the principle of dynamic pricing and its implementation in practical contexts.