2.14. Suppose that the quantity of steel demanded in France is given by Qs ! 100 # 2Ps " 0.5Y " 0.2PA, where Qs is the quantity of steel demanded per year, Ps is the market price of steel, Y is real GDP in France, and PA is the market price of aluminum. In 2011, Ps ! 10, Y ! 40, and PA ! 100. How much steel will be demanded in 2011? What is the price elasticity of demand, given market conditions in 2011?