Who doesnt love kicking back after work with a snack and a good show? Everyone loves some

Question:

Who doesn’t love kicking back after work with a snack and a good show? Everyone loves some free time . . . but, of course, time isn’t free! In the past 10 years, ridesharing services like Uber have become wildly popular. People who need to get from A to B value the ability to connect with a driver rapidly, rather than waiting for a scarce taxicab. And ordinary people (with a nice enough car) can earn a few extra bucks giving rides, working as little or as much as they please. Today, an estimated 2 million people drive for Uber, often evenings and weekends after they’re finished the day at a full-time job. Explain how the growth of Uber reflects the way in which ridesharing has altered the opportunity cost of leisure.

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 9781319105563

3rd Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

Question Posted: