Market demand is given as Qd $=3006$P$.$ Market supply is given as Qs $=4$P$.$ If price increases from $$8$ to $$11,$ what is the price elasticity of demand?Question $4$ Select one:a$\mathrm{.}0\mathrm{.}2$b$\mathrm{.}0\mathrm{.}9$c$\mathrm{.}1\mathrm{.}1$d$\mathrm{.}1\mathrm{.}2$e$.$None of the above.