File Edit View History Bookmarks Profiles Tab Window Help Content X iClicker Student - ECON120: Pr X + uic.blackboard.com/ultra/courses/_201828_1/cl/outline Remaining Time: 1 hour, 22 minutes, 04 seconds. Question Completion Status: Price (per ride) $7.50 7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 2.50 2.00 5 6 7 8 9 10 11 12 13 14 15 Quantity (millions of rides per year) The following graph shows the market for the long-distance bus rides. In the absence of taxes, the equilibrium price of a ride is $5 and the equilibrium quantity is 10 million rides. Suppose that regulator levies an excise tax on bus service providers. The amount of excise tax equals $2 per ride. What will be consumer's tax incidence (i.e. extra price increase faced by consumers)? $1 $0 O $2 $0.50 699 DEC 10