Question 4 (3 points) Consider the demand equation for cigarettes In Q Ha | BIn P! | u where Q, P, and u denote the quantity, price and unobserved error term respectively. A researcher ran OLS regression and found that the estimates of alpha and beta were 1.2 and -1.2. Can you find a reasonable estimate of the price elasticity of cigarette demand? Yes, it is O. Yes, it is 1.2. No, we cannot construct a reasonable estimate based on the given information. Yes, it is - 1.2