When the Price of Taking a Ride in Uber Increases,the

question 130

Multiple Choice

When the price of taking a ride in Uber increases,the demand for Lyft rides increases,ceteris paribus.Uber and Lyft are therefore

• A)Elastic.
• B)Inelastic.
• C)Complements.
• D)Substitutes.

---

Definitions:

Marketing Mix

The strategic combination of four key elements—product, price, place, and promotion—used by businesses to meet their marketing objectives and satisfy customer needs.

Internet Sites

Websites hosted online, accessible through the internet, providing information, services, products, or platforms for interaction.

Kiosks

Interactive standalone units providing information or services, often used in retail, hospitality, and public service sectors for transactions or display purposes.

Dealer Networks

A structured system of intermediaries or distributors that a company uses to retail its products to the end consumers.