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Taxicab Drivers Who Hold Exclusive Licences Do Not Have Market

Question 11

Multiple Choice

Taxicab drivers who hold exclusive licences do not have market power because


A) they charge too much for their services.
B) they face competition from other modes of transportation.
C) some cab drivers lease their cabs to others during their off hours.
D) there are insufficient cabs in the city.
E) not enough licences are issued.

Correct Answer:

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