2.1 A recent study estimated the demand for public transport in Stockholm._[1] a) The authors find that the elasticity of demand for single trips with public transport in Stockholm is -0.46 on average. Thus, if price were to increase by 10 percent by how much do we expect demand for trips to change? b) For longer trips the authors find that demand is more elastic and report that the estimated elasticity of demand for longer trips with public transport is around -1.2. Thus, if price were to increase by 10 percent by how much do we expect demand for longer trips to change? c) Assume that the regional authorities have a target that long trips with public transport should increase by 10 percent. How would price need to change to achieve this change if the elasticity is 1.2. d} Discuss possible reasons why demand for longer trips may be more elastic than demand for shorter trips