Explain by using supply and demand curves

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Consider the market for taxi service in a city. Explain, by using supply and demand curves, how each of the following actions will affect the market. (Consider each case separately) A. Bus drivers go on strike. B. Bus fares increase after a strike by bus drivers C. Taxi drivers must pass a competency test, and one-third fail. D. Gasoline prices increase E. Half the downtown parking lots are converted to office buildings. F. the population of the city increases.

Reference no: EM13887734

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