Question 2 The following is an excerpt from a newspaper article: "In New York City, rising fares on Uber and Lyft boosted demand for yellow cabs." Not yet a What elasticity concept is most relevant to this excerpt? Explain your answer in one sentence answered b. Given your answer in part a, what can you say about the sign of the elasticity measure? Explain your answer in one sentence Points out of 2.00 Flag Question 1 A B SSQuestion 3 Using the most relevant concepts covered in this exam, explain why the quantity demanded of Good X increases when the price of Good X decreases Not yet answeres Points out of A B I 1.00 Flag