After you have studied Economics in the News on pp. 478479, answer the following questions. a. How

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After you have studied Economics in the News on pp. 478–479, answer the following questions.
a. How is the demand for self-employed Uber drivers determined?
b. How is the demand for regular wageemployed taxi drivers determined?
c. Which of the influences on the demand for self-employed drivers changed when Uber arrived to increase demand?
d. Which of the influences on the demand for wage-employed drivers changed when Uber arrived to decrease demand?
e. Explain the two possible reasons why a decrease in the demand for wage-employed drivers can result in an increase in their level of employment.
f. Illustrate with a graph the backward-bending supply curve explanation for the fall in the wage rate and increase in employment of wage-employed drivers.image text in transcribedimage text in transcribedimage text in transcribed

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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