And I used uber or lyft to ride back and forth to work every single day because it's so cheap. ~9 bucks compared to a 3 dollar metro ride (and I typically save 20 minutes). If it's 15 dollars I'd ride less often and I'd probably try to hail a cab first.
Oh it's definitely elastic. I used to take Uber everywhere, until they (apparently) removed the restriction on driver's to use nice/current cars. Once drivers starting showing up in 10 year old beat down cars, my riding plummeted.
Uber demand is definitely elastic.