2.5 points Save Answer Price (per ride) $7.50 S 7.00 6.50 6.00 5.50 5.00 4.5 4.00 3.50 3.00 2.50 2.00 5 6 7 8 9 10 11 12 13 14 15 Quantity (millions of rides per year) The following graph shows the market for the long-distance bus rides. In the absence of taxes, the equilibrium price of a ride is $5 and the equilibrium quantity is 10 million rides. Suppose that regulator levies an excise tax on bus service providers. The amount of excise tax equals $2 per ride. What will be consumer's tax incidence (Le. extra price increase faced by consumers)? O $2 O $1 $0.50 SO