I. Trendy Travel Transit (TTT) is considering a fare increase. They have studied ridership data 'om previous years, and have estimated the following demand curve for their services: Q =120.000 40,000 P where Q is the number of riders per month and P is the fare charged for each trip. Cm'rently, this fare is equal to $1. 0} Given the $1 fare. how many riders use TTT per month? 10} Calculate the price elasticity of demand for TTTs services. c} If TTT decides to raise their fare. will revenues increase or decrease? How do you knowthis