Discussion Post: Assessing Demand
Consider a consumer product you like or use (e.g., an iPhone, your car, dental floss, favorite soda, etc.). Describe the variables that might be part of the demand function for this product (like substitutes, complements, advertising, switching costs, etc.). How would you describe the elasticity of demand for this product: Is it highly or somewhat elastic or inelastic or somewhere in between? Why?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.