The licensing of taxis through the use of medallions decreases the price of taxi service.

Name: The licensing of taxis through the use of medallions decreases the price of taxi service.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The licensing of taxis through the use of medallions actually increases the price of taxi service as it limits the number of taxis available and creates a barrier to entry for new drivers. This leads to a supply shortage and higher prices for consumers.

The Licensing of Taxis Through the Use of Medallions Decreases