D Question 36 1 pts An Uber driver faces costs for driving that include sunk cos

Question

D Question 36 1 pts An Uber driver faces costs for driving that include sunk costs like insurance that contribute to the average cost per mile of $.50. Yet when a rider offers to pay less than that for a ride, the driver agrees because O the driver is irrational; this decision will cause a loss. O the driver needs to cover all sunk costs to be better off by accepting the offer. O sunk costs like auto insurance (in this case) do not increase as driving increases D Question 37 1 pts Oligopolistic markets: O are characterized as having a small number of sellers. O typically have higher barriers to entry O are usually thought of as the most efficient market structures

Explanation / Answer

Answer sunk costs do not increase as driving increases

Are characterised as having small no. of sellers.( Barriers to entry are higher in monopoly)

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