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Consider the market for taxis within Australia. Assume that new regulation cancels the earlier requirement for all taxis to have a special licence. Whatwouldhappentothesupplyoftaxirides?Assumingthatcustomersdonotcareaboutthe licences,
Consider the market for taxis within Australia. Assume that new regulation cancels the earlier requirement for all taxis to have a special licence.
- Whatwouldhappentothesupplyoftaxirides?Assumingthatcustomersdonotcareaboutthe licences, what would happen to the demand for taxi rides?
- What would happen to the equilibrium price of taxi rides? What would happen to the equilibrium quantity of taxi rides?Show your answers in a diagram and explain.
- Is the change in equilibrium quantity less, more, or equal to the horizontal shift in the demand or supply curve? Explain why, using your previous diagram.
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International Development And The Washington Consensus A Pluralist Perspective
Authors: John Marangos
1st Edition
042953485X, 9780429534850
