The images below is the article of my homework, please check out and help me answer the questions below:

1. Explains how supply and demand interact to create equilibrium in the market.
2. The demand for Uber rides increased during certain events. There is evidence of supply responding to the situation in the rides market.

a.) Draw a demand and supply diagram(s) to illustrate the situation.

b.) Using the diagram, explain how supply and demand interacted to create equilibrium in the market for Uber rides.

The Victorian government hasagged its intention to cap Uber's controversial surge pricing in the state following high fares during the recent train network shutdown. Chaos ensued when Meiboame 's entire train nettvark was taken down by a computer maifunctian during the evening peak time on 13 J 1113:. Uher '5 prices quickiy surged and reached nearly four times the normal price as commuters looked for alternative ways to get home. Uber ariiises a \"dynamic \" pricing model, with fare prices increasing during popular times. Tire company says this is to encourage more drivers to hit the roads to meet this demand, but the tactic has been criticised for exploiting people during natural disasters or emergencies.