In many large U.S.cities,taxicabs operate as near monopolies because of:

Question

Quizplus · Accepted Answer

Taxicabs operate as near monopolies in many large U.S. cities because of licenses. Governments grant a limited number of licenses to operate taxicabs, creating a barrier to entry for potential competitors. This limited supply of licenses allows existing taxicab companies to operate without much competition, leading to higher prices and lower quality of service for customers.

In Many Large U