The quota rent for a New York taxicab owner is equal to the market price of the license that allows him to drive the cab.

Name: The quota rent for a New York taxicab owner is equal to the market price of the license that allows him to drive the cab.
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Quizplus · Accepted Answer

The quota rent is the difference between the market price of the license and the price the owner paid for it. In this case, the owner paid nothing for the license, so the quota rent is equal to the market price.

The Quota Rent for a New York Taxicab Owner Is