You are Lori Lightfoot. The city needs money. You are contemplating 2 sources of revenue: levying a tax on gas in Chicago at $.50/ gal, and/or increasing the CTA fare 5.25. The 2 demand schedules are as follows. Gas price Gallons demanded (in millions) CTA fare Number of riders (one way) {in millions) $4.50 52.00 6 4.00 3.50 3.00 Answer the following questions 1. Arethe 2 demand curves straight lines? Is the elasticity constant on each curve at each price? If so, what is it? If not, what is it? Use mid point method. (5 Elasticities) +5 pts Assume the starting point is $4.00 gas and 51.75 CTA. Is one strategy better than the other (just from a maney perspective)? Daoes this result make sense with your understanding of elasticity and total revenue? Why or why not? +5 pts