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Market demand is Qd = 400 – 10 Price; Market supply is Qs = 40 +
30 Price. Find the price elasticity of demand when Price = $30.

a) 360
b) 100
c) -3.0 (or 3.0 in absolute value)
d) -0.5 (or 0.5 in absolute value)
e) -0.11 (or 0.11 in absolute value)