Regulating taxi cab owners association

Reference no: EM1368295

Many cities regulate the taxi industry by licensing cabs. These licenses are often called medallions because they are issued in the form of a metal shield that must be affixed to the hood of the cab, where enforcement officials can easily see it. Furthermore, most cities regulate the fares that taxis can charge, while taxi medallions are sold and bought in the free market. Suppose you are elected a City Council Person. At a city council meeting, the Taxi Cab Owners Association argued for a far increase. They note that the market price to buy or rent taxi medallions has been rising, and with these higher costs, profitability is reduced.

Evaluate this argument, and decide your vote whether to approve a fare increase or not proposed by the Taxi Cab Owners Association.

Reference no: EM1368295

Questions Cloud

Calculating annualized return : The treasurer of a U.S. firm noted that although short run deposits in Swiss bank accounts had earned the company only a 3% annualized return when measured in Swiss francs, in dollars the company had realized a 12% rate of return.

Choosing the best alternative : Suppose a firm that is deciding whether to operate plants only in United States or also in either Mexico or Canada or both. Congress is currently discussing an overseas investment in new capital tax credit for U.S. firms that operate plants outside t..

Design tower of hanoi puzzle program : Implement and design Tower of Hanoi Puzzle program using C# and Windows Presentation Foundation WPF template in Visual Studio 2012 or newer.

Marginal revenue equation and optimal output combination : Let a company's demand be given by: Q=100-P. Let company's marginal cost be $2 per unit of production. Solve for the firm's marginal revenue equation and optimal output or price combination.

Regulating taxi cab owners association : Many cities regulate taxi industry by licensing cabs. These licenses are often called medallions because they are issued in the form of a metal shield that must be affixed to hood of the cab, where enforcement officials can easily see it.

Optimal price levels by using advanced pricing techniques : Black Diamond Tennis & Golf Club offers golf and tennis memberships to residents of Black Diamond, Ohio, in which there are 2-types of families:

Calculating the real gdp : Use the information on U.S. real GDP below to calculate real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987 to 2005.

Efficiency of mosfet circuit : Efficiency of MOSFET circuit provide in datasheets of any product is measured at transient state of my output node or staedy state?

Creating an effective marketing mix : Individual Assignment on Creating an Effective Marketing Mix and Shared Activity in Marketing Audits Using SWOT Analyses, C onsider the need for a marketing mix in a marketing strategy. What would be the danger in too little or too much of a focu..

User Account

All Pages