Problem
Cabbie Wages and Income. Suppose New York City increases the taxi fare by 20 percent.
a. For the typical cabbie, daily income will increase by __________(more than/less than/exactly) 20 percent. Explain.
b. Suppose the initial fare per mile is $0.60 and the initial miles per day is 100. Compute the percentage change in daily income.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.