1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sphinxa [80]
3 years ago
10

2) Consider the taxi market, a constant cost competitive industry. To operate a taxi an entrepreneur needs a license. Show graph

ically the impact of this regulation on the market supply and the efficiency of this market (as measured by the deadweight loss). A taxi medallion used to sell for up to 1.3 million dollars in NYC. After the entry of UBER the cost dropped these days to approximately 200,000. Discuss the impact of this change on the performance of this market.
Business
1 answer:
Arturiano [62]3 years ago
7 0

Answer:

The new entrant of UBER has led the taxi fares to drop by significant amount. The competition has increased and customers have now choice available to choose from lowest fares.

Explanation:

The taxi market is competitive industry but since there was no specific organization behind the taxi union which governs the taxi fares, the taxi drivers were free to charge the fare they want. The entry of UBER in the industry has enables the customers to switch from normal taxi to UBER as it provides ease of online booking with lowest possible standard fares.

You might be interested in
Regarding organizational buying, the people who have the power to select or approve the supplier- especially for larger purchase
nadezda [96]
In general, the people who have the power to select or approve the supplier are referred to as the "buyers". Most of the time, buyers want to go with a supplier who can offer the best product at the cheapest price. 
8 0
3 years ago
Required information [The following information applies to the questions displayed below.] Desmond is 25 years old and he partic
MrRa [10]

Answer:

Saver's credit = $0

Explanation:

He is not entitled to any saver's credit, as he is not married and his AGI is greater than $32,000. Therefore the Saver's credit is equal to zero. Is also important to consider that Desmond is a head of a household and his AIG is between 31,126 and 48,000.

6 0
3 years ago
Read 2 more answers
The manager of Viking Sports finds that the price elasticity of baseball bats is −0.77. He wants to hold a sale to get rid of hi
kow [346]

The price elasticity of baseball bats is −0.77, this indicates that the demand for bats tends to inelasticity. Therefore, if the manager wants to dispose of his inventory, he would advise you not to lower the price because it would cause a decrease in income. He could raise the price and earn more since being an inelastic demand, the quantity demanded would not be modified as much as the price would change.

6 0
3 years ago
Money placed in an insured bank account so that it will be available for future emergencies is referred to as __________.
lawyer [7]
It is referred to as a life savings account<span />
7 0
3 years ago
Read 2 more answers
1. Clean Machines Company (Clean) makes washing machines. Over the phone, Clean offers to sell Dealers Appliance Outlet (Dealers
photoshop1234 [79]

Answer:

Explanation:

In my opinion, I would like to say that Clean Machines Company is correct. If you look at it this way, you'd see that there actually isn't any contract between Clean Machines Company and Dealer. When it came to about offers, the person offering is able to revoke an offer before the offer is even accepted. And he won't be held responsible unless of course, the offer is irrevocable. Then, to make the offer to be irrevocable, the Dealer then would have needed to prove that an option was present, or prove that the offer is was not able to be revoked due to UCC provision.

6 0
2 years ago
Other questions:
  • Harrison Corp. wants to raise its level of service to enhance customer experience. The board of directors send out an email cont
    15·1 answer
  • Anna Prentice has worked for years fixing broken typewriters. She is laid off from her job as fewer and fewer people use typewri
    8·1 answer
  • At December 31, 2017, before any year-end adjustments, Macarty Company's Prepaid Insurance account had a balance of $2,700. It w
    11·2 answers
  • For the quarter ended March 31, 2017, Croix Company accumulates the following sales data for its newest guitar, The Edge: $316,7
    9·1 answer
  • You and a rival are engaged in a game in which there are three possible outcomes: you win, your rival wins (you lose), or the tw
    11·1 answer
  • List the four ways to become a business owner
    14·2 answers
  • The economic problem means that, both individually and socially, we must make choices and that all choices have costs. Economist
    14·1 answer
  • Jack, Jill and Maritza are employed as sales persons for Deuce Hardware Supplies. None was hired for a definite period and each
    7·1 answer
  • Which aspect is an essential feature of a joint venture between two companies that come together for global trade?
    9·1 answer
  • What is one of the most important responsibilities of the dental office business assistant?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!