<p>1  The New York Times (Feb. 17, 1996) reported that subway ridership declined after a fare increase: "There were nearly four million fewer riders in December 1995, the first full month after the price of token increased 25 cents to $1.50, than in the previous December, a 4.3 percent decline.”</p><p> </p><p>(a)        Use these data to estimate the price elasticity of demand for subway rides.</p><p>(b)       According to your estimate, what happens to the Transit Authority’s Revenue when the fare rises?</p><p>(c)        Why might your estimate of the elasticity be unreliable?</p><p> </p><p>2  What is the relationship between the marginal-cost curve and the average-total-cost curve? Between the marginal-cost curve and the average-variable-cost curve? Explain.</p><p> </p><p>自己算了一下，但是十分不确定，请帮忙解决下，谢谢～～～</p><p> </p>