Final answer:
Demand for McDonald's is more elastic than cocaine.
Step-by-step explanation:
The price elasticity of demand for cocaine is .40 and the price elasticity of demand for McDonald's is 1.7. Therefore, demand for McDonald's is more elastic than cocaine. Elastic demand means that the quantity demanded is highly responsive to changes in price. In this case, a small change in the price of McDonald's would result in a larger percentage change in quantity demanded compared to cocaine.