4. [25 pts] Consider a city that decreases the distances between bus stops, which decreases the walking time of bus rides by 20%, increases the in-vehicle time by 10%, and increases operating costs by 5%. Suppose the initial bus ridership is 3000 per hour, and elasticity oftransit ridership with respect to (i) in-vehicle time = -0.40, (ii) access (walk/wait) time = -0.70. and (iii) fare = -0.40. a. If the price is fixed, how would the ridership respond to changes in the city's bus schedules] design? b. Suppose the transit operator fully passes the higher operating costs onto passengers by increasing the fa res. How would the ridership change