Can The Taxicab Industry In Large Cities Would Be Subject To Significant Economies Of Scale?
Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not? There are many costs that involved in taxicab industry. These costs include driver wages, gasoline and cars themselves. According to economic of scale, as quantity of output increases, the cost per unit decrease. Therefore in order to increase am output, more cabs/cars have to be bought, more drivers need to be employed and more gasoline would be required. As there are many costs that are included to expand tax industry, it does not seem that there are significant economies of scale in tax industry. 24. Small “Mom and Pop firms,” like inner city grocery stores, sometimes exist even though they do not earn economic
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