The Mobile system has significantly affected the taxi industry. Prior to that, taxi firms hire drivers...

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The Mobile system has significantly affected the taxi industry. Prior to that, taxi firms hire drivers to provide riding services to customers mainly through phone call reservations. Now, taxi firms can build mobile systems that allow customers to make reservations by using mobile apps. The mobile app systems can provide additional features to the customers, such as finding nearby available taxi cars, estimating the arriving time of the trips, paying the taxi fees directly within the app, etc. On the other hand, mobile apps also provide a variety of other riding choices for the customers. For example, customers can choose Uber or Lyft for riding services. Mobile-based riding service platforms, such as Uber and Lyft, attract both customers and drivers away from the taxi firms. Moreover, customers can also choose mobile-based bicycle-sharing systems or scooter-sharing systems. Based on the given information, answer the following questions regarding the changes to the taxi industry due to the introduction of the mobile systems. 1. (2 points) The supplier's bargaining power becomes stronger because: 2. (2 points) The buyer's bargaining power becomes weaker because: 3. (2 points) The buyer's bargaining power may also become stronger because: 4. (2 points) The threat of substitutes becomes stronger because: 5. (2 points) How does it change the threat of new entrants? Why? The Mobile system has significantly affected the taxi industry. Prior to that, taxi firms hire drivers to provide riding services to customers mainly through phone call reservations. Now, taxi firms can build mobile systems that allow customers to make reservations by using mobile apps. The mobile app systems can provide additional features to the customers, such as finding nearby available taxi cars, estimating the arriving time of the trips, paying the taxi fees directly within the app, etc. On the other hand, mobile apps also provide a variety of other riding choices for the customers. For example, customers can choose Uber or Lyft for riding services. Mobile-based riding service platforms, such as Uber and Lyft, attract both customers and drivers away from the taxi firms. Moreover, customers can also choose mobile-based bicycle-sharing systems or scooter-sharing systems. Based on the given information, answer the following questions regarding the changes to the taxi industry due to the introduction of the mobile systems. 1. (2 points) The supplier's bargaining power becomes stronger because: 2. (2 points) The buyer's bargaining power becomes weaker because: 3. (2 points) The buyer's bargaining power may also become stronger because: 4. (2 points) The threat of substitutes becomes stronger because: 5. (2 points) How does it change the threat of new entrants? Why?