This is related to Macroeconomics: Please use a supply and demand model to illustrate how Uber and Lyft use surge pricing (Surge Pricing at UberLinks to an external

https://www.obs.org/newshour/show/how-data-drives-ubers-efficient-but-controversial-business-model

To achieve market equilibrium during peak demand hours, and hours of limited driver availability. How do surge prices induce driver availability/supply? How do surge prices affect rider demand? In the short-run, can an equilibrium be achieved (no excess supply or excess demand) without an increase in the number of rides given? How will this short-term equilibrium transition into a long-run equilibrium?

Please do not use A.I or I will have to report it. I will be using an A.I checker. This shouldn't take a couple of minutes. Take your time and thank you!