7. Traditional taxi operates with a fixed fare structure but ride-hailing apps use surge pricing with variable pricing. In particular, the fares can increase significantly during peak periods. Some...

7.

Traditional taxi operates with a fixed fare structure but ride-hailing apps use surge pricing with variable pricing. In particular, the fares can increase significantly during peak periods. Some commuters complain that surging pricing during peak periods harms consumers' interest. Do you agree? Explain in full sentences using supply and demand graphs for rides.