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Briefly explain why the following statements are either TRUE or FALSE:

a. Because the U.S. postal service is a monopoly and Congress sets postal prices through legislation, market forces do not determine stamp prices.

b. New York City government auctions taxi medallions that give the right to transport passengers by taxi. Because the government controls the number of medallions, market forces do not determine their price.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91298196

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