Write a 5 page report on transportation methods being specific CARS vs Hybrid cars and its demands elasticity.
Describe of what this elasticity is measuring and identify it as a price elasticity, an income elasticity, or a cross price elasticity. Include in your report what it means if the number for the elasticity is negative or positive and if represents elastic or inelastic demand. If there is information about the value of this elasticity in the short-run and the long-run include that information and discuss what it means if these values are the same or different. Include information about when this elasticity was estimated and discuss any conditions that pertained at that time that you think may have influenced the numerical value of this elasticity. Discuss whether you think these conditions have changed and if you think the numerical value of this elasticity would be different today than it was when it was measured (if it would be different how and why). In the remainder of the report, discuss if this value is what you would have expected or it surprised you.
You must a footnote that identifies the source of information that you include in your report and reference the source at the end of the report. You must put any phrases or sentences you use that come from others in quotes and follow the quotes with the name of the source in parentheses ( ). Your report should be not less than 04 pages in length, double-spaced with the font size 12pt.