Suppose that when the price of cigarettes decreases by 20 percent, the quantity demanded increases by 10 percent. The absolute value of price elasticity of demand for cigarettes is , making cigarettes an product (in this example).

Group of answer choices

0.6; elastic

1.7; inelastic

0.5; inelastic

1.7; elastic

2.0; elastic

Mcgraw-hill education uses $3,800 worth of electricity and natural gas in its headquarters building for which it has not yet been billed. at the beginning of january, turner construction company pays $963 for magazine advertising to run in monthly publications each of the first three months of the year. dell pays its computer service technicians $403,000 in salaries for the two weeks ended january 7. answer from dell's standpoint. the university of florida orders 60,000 season football tickets from its printer and pays $8,340 in advance for the custom printing. the first game will be played in september. answer from the university's standpoint.