Assume that the quota limit is 8 million rides. Suppose demand decreases due to a decline in tourism. What is the smallest parallel leftward shift in demand that would result in the quota no longer having an effect on the market? Illustrate your answer using Figure 4-7.

Figure 4-7

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Fare (per ride) $7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 0 6 E S D I 7 8 9 10 11 12 13 14 Quantity of rides (millions per year) Fare (per ride) $7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 Quantity of rides (millions per year) Quantity demanded 6 7 8 9 10 11 12 13 14 Quantity supplied 14 13 12 11 10 9 8 7 5.0 6