3. (9) Read the following article then use it to answer the questions that follow:https://news.crunchbase.com/news/the-revenue-costs-and-margins-behind-birds-scooters/

a. (3) Bird has lost tens of millions of dollars and has never turned a profit since it entered the scooter rental service market. How and why does Bird continue to operate if it has yet to generate a profit?

b. (3) There are typically 3-4 scooter rental companies operating in the same city. Would you predict demand for one specific scooter company, say Bird, is elastic or inelastic? Explain.

c. (3) What type of industry would you categorize the scooter rental market? What characteristics are like a competitive industry? What characteristics are unlike a competitive industry?