Answer the following questions in essay format. Support the answers with research from at least three peer-reviewed journal articles
1.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.
2. Describe how marginal analysis, by avoiding sunk costs, leads to better pricing decisions.
3. Explain the importance of opportunity costs to decision-making and how opportunity costs lead to trade.
4. 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
