What is 27-4x3-6-7-9-2-7

Suppose you calculate that elasticity of demand for cigarettes is 0.5. you can conclude that: a. demand for cigarettes is elastic b. demand for cigarettes is unitary elastic c. a 1% increase in price of cigarettes will result in a 0.5% decrease in quantity demanded d. a 1% increase in the price of cigarettes will result in a 0.5% increase in quantity demanded.

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