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New York City during the time of the Great Depression issued medallions to taxi drivers. Ever since then the number of drivers has remained virtually
New York City during the time of the Great Depression issued medallions to taxi drivers. Ever since then the number of drivers has remained virtually fixed; that is there was a quantity control enacted. Medallions eventualy sold for $1 million, thereby raising the price fo taxi fares, before Uber and Lyft entered the market. What impact would Uber and Lyft have on medallion price
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