asked 119k views
2 votes
As new ride-sharing companies compete against taxi companies which had previously enjoyed monopoly power, what will happen to the price and quantity of transportation services

1 Answer

3 votes
The price and quantity of the taxi service should for the price, decrease and the quantity or number of taxis should increase due to the influx of the ride sharing taxis so availability should be much better and the passenger should benefit from both factors.
answered
User SimplyKnownAsG
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8.4k points
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