Answer to Question #310491 in Economics of Enterprise for rori

Question

Justify of market structure that uber operate in and evaluate the likehood of uber making an economic profit in the long-run

Answer 1

This company operates in the transportation industry. It is similar to a taxi. In the long run, this company is likely to make a profit, since it will be unprofitable for many people to own their own car, and these people will use this company.