In order to appeal to voters, the mayor of Gotham City decides to lower the price of taxi rides. Assume, for simplicity, that all taxi rides are the same distance and therefore cost the same. The accompanying table shows the demand and supply schedules for taxi rides.

Suppose that the stock market crashes, and, as a result, people in Gotham City are poorer. This reduces the quantity of taxi rides demanded by 6 million rides per year at any given price. Illustrate this change in the market below, paying special attention to the scale on the quantity axis.

Fare Stride} ID 5.5 F\" n: .U" rm 5.0 4.5 Market for taxi rides D 2 4 E 3 1D 12 14 16 Quantity of rides (millions per year) 18 2D 22 What affect will the mayor's new pun-:3.F have new? 0 A shortage of 2 million rides per year o A surplus of 2 million rides per year Q It will force the market into equilibrium. 0 It will haw: no effect