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Questions:
1. Identify an elastic good (Coca Cola Soft Drink) 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.
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%
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