1. Identify and discuss a good that has changed from elastic to inelastic. Discuss the reasons behind why this change has occurred.
2. Identify and discuss a good that has changed from inelastic to elastic. Discuss the reasons behind why this change has occurred.
3. Over the last hundred years we have seen many industries shift the market structure in which they operate in. Provide an example of two industries that had shifted market structures. For each of the two industries identified, discuss why this shift occurred.
Include citations and works cited.