Explore BrainMass

Taxi Industry Medallions

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

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.

© BrainMass Inc. brainmass.com October 25, 2018, 8:06 am ad1c9bdddf

Solution Preview

In our economy, it is a basic rule of thumb that as costs increase, so do prices. If the price to buy or rent taxi metdallions has increased while the fare rates have not, it is fair to argue in favor ...

Solution Summary

Regulating the taxi industry

See Also This Related BrainMass Solution

SWOTT Analysis for McDonalds Happy Meal Toy

I need a SWOTT Analysis (Strengths,Weaknesses,Opportunites,Threats,Trends)for an idea of an Olympic Medal Toys to be included in Happy Meals as new product. The medals would represent each country and what they medaled in. The medals would cost $1.99 separtely, or $1.00 with a Happy Meal purchase.

I have attached the rest of the paper, just need the SWOTT analysis.

View Full Posting Details