question archive 1)Choose a product that has been purchased in the past month from a grocery or home improvement store

1)Choose a product that has been purchased in the past month from a grocery or home improvement store

Subject:EconomicsPrice:2.88 Bought3

1)Choose a product that has been purchased in the past month from a grocery or home improvement store.

2)Describe how each of the four factors contributed to the elasticity of the good.

3)Is the product considered elastic, inelastic, or unitary elastic?

4)In a few sentences, what effect do the current supply and current demand have on this product?

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