If a government quota limit at 6 million rides is imposed, the quota rent accruing to the owner of a taxi medallion will be _ per ride, but there will be a total missed opportunity (inefficiency) to consumers and producers of _ million rides.

If a government quota limit at 6 million rides is imposed, the quota rent accruing to the owner of a taxi medallion will be 1$ per ride, but there will be a total missed opportunity (inefficiency) to consumers and producers of 1 million rides.

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btunie33 btunie33 · Answer 2 · 2020-03-04T03:11:30+01:00

Answer:

$1; 1

Explanation:

In this case, if a $1 is the quota rent which is accrued to the owner of a taxi medallion per ride. The consumers and producers with 1 million rides will not be able to meet the quota limit, which is described to be 6 million rides.

This is because , the money that will be accrued by them will never be up to what the government has made as the limit. and this will be a total missed opportunity.

In the case, they will be put into doing extra tedious work to meet the limit or never meet the limit , unless it is reduced.

If a government quota limit at 6 million rides is imposed, the quota rent accruing to the owner of a taxi medallion will be _____ per ride, but there will be a total missed opportunity (inefficiency) to consumers and producers of _____ million rides.

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If a government quota limit at 6 million rides is imposed, the quota rent accruing to the owner of a taxi medallion will be _ per ride, but there will be a total missed opportunity (inefficiency) to consumers and producers of _ million rides.