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5) The introduction of ridesharing apps like Uber and Lyft has sparked debate among policy makers...

5) The introduction of ridesharing apps like Uber and Lyft has sparked debate among policy makers about whether these services are, on net, harmful or beneficial. Discuss one positive externality and one negative externality generated by these services.

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Answer #1

By using uber or other e-hail services instead of chasing down a taxi on a street or calling and waiting half an hour for a car service. These app users are able to hail a car from any location and have it arrive within minutes. The passenger's credit card is linked to the e-hail account , therefore no cash changes hands. It is less expensive than traditional taxis and car services.

The main disadvantage is surge pricing. It is the method of pricing in the free market that involves raising or lowering prices depending on supply and demand. At super peak times uber services could even be doubled or tripled. Also trip cancellations by drivers can cause disruptions to a passenger's plans.Low prices negatively affect driver's earnings.

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