"Elasticity" - 2 Paragraphs
Please respond to one of the following:
• Identify two elastic and two inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.
• Consider the sets of goods below. Which goods would you expect have relatively more elastic demand?Why?:
o Sirloin steak or a dozen eggs
o All brands of gasoline combined or just Chevron gas
o iPhone or Android.