The U.S. Department of Agriculture is interested in analyzing the domestic market for corn. The USDA's staff economists estimate the following equations for the demand and supply curves:
Qd = 1,600 - 125P
Qs = 440 + 165P
Calculate the price elasticity of demand at the equilibrium values
a.-0.45
b. 4,5
c. 45
d.+0.45
