In November 1995 the MTA raised the price for a single ride in the NYC subway and bus system from $1.25 to $1.50. A New York Times article published in February 1996, reported that in the month of December 1995, which was the first month after the price increase, subway ridership fell by 4.3%, while bus ridership fell by 11%. (a) On the basis of this information, what was the elasticity of demand for the NYC subway in 1995 and what was the elasticity of demand for the NYC buses in 1995?