1. Consider a city that decreases the distances between bus stops, which decreases the walking time of bus riders by 20%, increases the in-vehicle time (line -haul) time by 10%, and increases operating cost by 5%. On a typical bus line, the initial ridership is 1,000 riders per hour. Suppose the elasticity of transit ridership with respect to line-haul time is -0.40, to access time is -0.70, and to the fare is -0.40. Suppose the fare is fixed. Predict the change in ridership. d. Suppose the transit operator passes on the higher operating cost in the form of an increased far. Predict the change in ridership.