=+a. What does that limitation likely do to the price of taxi medallions?

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Economics

ISBN: 9780071214476

5th Edition

Authors: David Colander

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Question Posted: Oct 14, 2024 06:00 AM

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To legally operate a taxi in New York City, a driver must have a medallion issued by the New York City Taxi and Limousine Commission, an agency of the citys government. In 2019 the number of...
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=+a. What does that limitation likely do to the price of taxi medallions?
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=+6. New York City has issued 12,000 taxi licenses, called medallions, and has not changed that number since 1937.
=+ b. In the early 1990s, the New York City Taxi Commis sion promulgated a rule that required single-cab medallion owners to drive their cabs full-time.
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=+a. What does that limitation likely do to the price of taxi medallions?

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Economics

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