Problem
Find the elasticity and explain what happens to import spending when the quantity of imports rises from 100 to 125 with a fall in price from $10 to $8. Do the same if imports rise instead to 110. Examine the situation if imports rise to 130.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.