The following data show the demand for an airline ticket dependent on the price of this ticket. 
For the assumed cubic and log-log regression models, Demand = β0 + β1Price + β2Price2 + β3Price3 + ε and ln(Demand) = β0 + β1ln(Price) + ε, the following regression results are available. 
Which of the following is the price elasticity of the demand found by the log-log model?
Definitions:
Percentage Change
A mathematical calculation that describes the degree of change over time, often used to compare the difference between two numbers expressed as a fraction of the initial value.
GDP Deflator
A price index that measures the change in the price level of all new, domestically produced, final goods and services in an economy.
Real GDP
Gross Domestic Product adjusted for inflation, which represents the value of all goods and services produced over a specific time period within a country.
Percentage Change
A mathematical calculation that shows how much a quantity has increased or decreased in comparison to its previous value, expressed as a percentage.
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