Is there a daily fare cap on the Taipei MRT?

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Looking at the TRTC website's ticketing page there does appear to be a one-day unlimited ticket available for NT$150:

You can choose when to activate the pass. Once activated by scanning at the gates, it is valid for unlimited travel on the Taipei Metro until end of service on the same day. Valid for one passenger at a time only.

So it looks like this ticket would best suit my needs for this occasion.

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