1. Suppose that the supply and demand for taxi rides is given by Figure 9.1 and a quota is set at 6 million rides. Replicate the graph from Figure 9.1, and identify each of the following on your graph:

a. the price of a ride

b. the quota rent

c. the deadweight loss resulting from the quota Suppose the quota on taxi rides is increased to 9 million.

d. What happens to the quota rent and the deadweight loss?