In a city, the price for a trip on local mass transit (such as the subway or city buses) has been 10 pesos fora number ofyears. Suppose that the market for trips is characterized by the following demand curves: in the long run:Q=302P,andin the short run:Q=15P/2. Verify that the long-run demand curve is "flatter" than the short-run curve. Also,assuming thatthe current price is 10, decide whether the demand is more elastic in the short run or long run.