Assume a perfectly competitive market for nails, demand in the market is given by Qd = 70, whereas supply in the market is given by: Q5 = 10 + 2p. If supply changes in the market to Q5 = 20 + 2p, then the predicted change in the price elasticity of demand is: 0 Price elasticity of demand increases No change 0 The predicted change cannot be determined 0 Price elasticity of demand decreases