Discussion Post: Elasticity
o Research elasticity information for two particular goods: one with an elastic demand and one with an inelastic demand. Using elasticity information you gather, predict changes in demand. The United States Department of Agriculture website has a good resource to help with this.
o Describe how marginal analysis, by avoiding sunk costs, leads to better pricing decisions.
o Explain the importance of opportunity costs to decision-making and how opportunity costs lead to trade.
o Evaluate how better business decisions can benefit not just the producer but the consumer and society as a whole. In your evaluation, contrast the deontology and consequentialism approaches to ethics.
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.