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Consider the effect of higher gasoline prices on public transit ridership. The initial price of public transit is $3.00 per ride and the initial ridership is 100,000 people per day. Suppose the elasticity of transit rideeship with respect to the price of gassoline is +0.667 (or 2/3) and the price of gasoline increases by 30 percent. O A. shit the transit ridership demand curve to the left O B. cause a movement along the transit ridership demand curve C. stift the gasoine demand curve to the left. O D. shit the transit ridership demand curve to the right percent. The price elasticity of demand for transit ridership is 0.333 (or 1/3). 100.000 Use the Ine drawing tool once and the point drawing tool once to draw and label a new ine and a new point that ustrate the combined effect of the gas tax and the higher transit fare Note: id you are not prompted for a label, you have used the wrong drawing tool . price elasticity of demand for transit ridership is negative. O B. elastiaity of transit ridership with respect to the price of gasoline is positive. O C. elasticity of transit ridership with respect to the price of gasoline exceeds the price elasticity of demand Consider the effect of higher gasoline prices on public transit ridership. The initial price of public transit is $3.00 per ride and the initial ridership is 100,000 people per day. Suppose the elasticity of transit rideeship with respect to the price of gassoline is +0.667 (or 2/3) and the price of gasoline increases by 30 percent. O A. shit the transit ridership demand curve to the left O B. cause a movement along the transit ridership demand curve C. stift the gasoine demand curve to the left. O D. shit the transit ridership demand curve to the right percent. The price elasticity of demand for transit ridership is 0.333 (or 1/3). 100.000 Use the Ine drawing tool once and the point drawing tool once to draw and label a new ine and a new point that ustrate the combined effect of the gas tax and the higher transit fare Note: id you are not prompted for a label, you have used the wrong drawing tool . price elasticity of demand for transit ridership is negative. O B. elastiaity of transit ridership with respect to the price of gasoline is positive. O C. elasticity of transit ridership with respect to the price of gasoline exceeds the price elasticity of demand