1. Choose a company, whether one you work for or one you would like to work for. Choose a product that the company produces. Do you think the demand for that product is elastic or inelastic or unit elastic? Why? What would cause the elasticity to change in the future?

2. For each of the following goods, indicate whether you expect demand to be inelastic or elastic, and explain why.

(a) Opera:
(b) Foreign travel:
(c) Local telephone service (as a whole not from any one particular carrier):
(d) "On Demand" movie rentals:
(e) Eggs: