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The graph below shows the market for the MTA one-way tickets during off-peak hours. 2.1. The authorities concerned with the wellbeing of the passengers, cap

The graph below shows the market for the MTA one-way tickets during off-peak hours.

2.1. The authorities concerned with the wellbeing of the passengers, cap the price per ticket to $8. What is the effect of this policy on the market for MTA one-way off-peak tickets?

2.2. The MTA administration (worried that its revenues won't cover its operating cost) successfully lobby the authorities to institute a price floor of $8. What is the effect of this policy?

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