The city planning authority in a city decides that street food vendors should be issued licenses in the interests of reducing inconvenience to pedestrians on the streets.They decide to issue a fixed number of transferable permits,say Q.Over time,how would this licensing system affect the price and quantity of street food?

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The Answer of The city planning authority in a city decides that street food vendors should be issued licenses in the interests of reducing inconvenience to pedestrians on the streets.They decide to issue a fixed number of transferable permits,say Q.Over time,how would this licensing system affect the price and quantity of street food?

The City Planning Authority in a City Decides That Street