Business Economics, Nottingham University, UK

Essay Question

Essays should be no longer than 1500 words. Your essay should include a word count and a list of references (these are references to materials you have actually cited in the text).

Essays should display a clear structure and demonstrate reading beyond lecture notes and module texts. Please write on the following topic:

”Surge pricing” is a technique used to balance supply and demand in some markets for taxi hire. Using basic demand and supply analysis, illustrate how in principle this technique works, and assess whether it would be efficient to ban this practice.