Movement along the demand for taxi rides in nyc

Reference no: EM133554720

Question: Suppose than in August 2018 at Q = 5M per day, New York City consumers were willing to pay $2.5 for an additional taxi ride of one mile. Because of Covid-19, in August 2020, New York City consumers were willing to pay only $1 for an additional ride of one mile at Q = 5M per day. This result suggests that: Group of answer choices The demand for taxi rides in NYC shifted to the left. The demand for taxi rides in NYC shifted to the right. There was a movement along the demand for taxi rides in NYC.

Reference no: EM133554720

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