Cabbie Wages and Income. Suppose New York City increases the taxi fare by 20 percent. (Related to Application 2 on page 710.) a. For the typical cabbie, daily income will increase by...

Cabbie Wages and Income. Suppose New York City increases the taxi fare by 20 percent. (Related to Application 2 on page 710.)

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.