In case of rideshare market such as Uber, surging the price dampens demand. It was observed that if prices increased for a ride from $5.00 to $ 6.00, a 1.2x surge, there was a precise 27% drop in demand. Based on the above information and the figure below, answer the following questions: Exhibit 3: Uber Surge Pricing Example and Commentary SURCE PRICING Demand is off the chartsl Fares have increased to get more Where on the rarl 2.1X $16.09 MINIMUM FARE 4084 /MIN 5304 /KM I ACCEPT HIGHER FARE NOTIFY ME IF SURGE ENDS 1. What is the estimated price elasticity of demand (PED) for Uber? Inte