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Economics
Description
You will be evaluating each of the questions as you will need to make sure to use relevant economic terms and content development in your work.
Scoring Rubric:
1. must include APA formatted in-text citation/reference, 20%
2. use of economic terms, 20%
3. correctness to each question and at least 2-3 paragraphs for each question, 60%
Questions:
1. Identify an elastic good that you have purchased and explain your reasoning.
2. Analyze a store owner and how they should price their products based on elasticity.
3. Evaluate how a firm is able to estimate whether they are selling elastic or inelastic.
4. Explain how a store can sell more elastic goods.
5. Analyze how a store owner can continue to increase prices on inelastic goods.