Assignment Task :
Assignments Questions :
(a) What is meant by “predatory pricing”?
(b) Using Extract A, calculate to two decimal places the percentage change in the number of private hire vehicles in London from 2013 to 2015. You are advised to show your workings.
(c) Explain the likely impact on the price of taxi journeys resulting from the trends shown in Extracts A and B.
(d) Uber planned to carry out an extensive advertising campaign across the UK in 2016.
Discuss the possible impact on Uber’s demand curve from this advertising campaign.
(e) Assess how a small private hire vehicle firm could compete successfully in the taxi market.
(f) Differentiate between price elasticity of demand, income elasticity of demand and cross elasticity of demand, and analyse the importance of such elasticities for firms like Uber in their day-to-day management decisions.
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