Unit I introduced the benefits of markets to improving outcomes for producers and consumers. Unit II examined the role of costs and prices in decision-making. For this assignment, you will answer a series of questions in the form of an essay. Support your answers with research from at least three peer-reviewed journal articles using the CSU Online Library (or other sources).
Research elasticity information for two particular goods: one with an elastic demand and one with an inelastic demand. Using elasticity information you gather, predict changes in demand. The United States Department of Agriculture website has a good resource to help with this.
Your essay must be at least three pages in length (not counting the title and references pages) and include at least three peer-reviewed resources. Adhere to APA Style when writing your essay, including citations and references for sources used. Be sure to include an introduction. Please note that no abstract is needed.
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