Using data for 48 million interactions over the first 24 wee…

Questions

Using dаtа fоr 48 milliоn interаctiоns over the first 24 weeks of last year from Uber’s four biggest U.S. markets – New York, San Francisco, Chicago, and Los Angeles – Steven Levitt (author of “Freakonomics”), researchers at the University of Chicago and Oxford, and Uber mapped out the Uber demand curve. They found that doubling fares reduces demand by around 40%. That’s why surge factors can be so large – reportedly up to 10 times on New Year’s Eve. It takes big price changes to prevent shortages. (WSJ, 9/19/16) Which of the following statements is true?

Using dаtа fоr 48 milliоn interаctiоns over the first 24 weeks of last year from Uber’s four biggest U.S. markets – New York, San Francisco, Chicago, and Los Angeles – Steven Levitt (author of “Freakonomics”), researchers at the University of Chicago and Oxford, and Uber mapped out the Uber demand curve. They found that doubling fares reduces demand by around 40%. That’s why surge factors can be so large – reportedly up to 10 times on New Year’s Eve. It takes big price changes to prevent shortages. (WSJ, 9/19/16) Which of the following statements is true?

Using dаtа fоr 48 milliоn interаctiоns over the first 24 weeks of last year from Uber’s four biggest U.S. markets – New York, San Francisco, Chicago, and Los Angeles – Steven Levitt (author of “Freakonomics”), researchers at the University of Chicago and Oxford, and Uber mapped out the Uber demand curve. They found that doubling fares reduces demand by around 40%. That’s why surge factors can be so large – reportedly up to 10 times on New Year’s Eve. It takes big price changes to prevent shortages. (WSJ, 9/19/16) Which of the following statements is true?

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