1-Think of a relevant example in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good. How did this change affect the market equilibrium for that good or service? Explain 2- What is the goal of antitrust policies? 3- If public utilities are a natural monopoly, what would be the danger in splitting them into a number of separate competing firms? 4-take a moment to see if you can figure out which of the following products have elastic demand and which have inelastic demand. It may be helpful to remember that when the buyer is insensitive to price, demand is inelastic. Gasoline, College textbooks, Coffee, Airline tickets, Concert tickets, Soft drinks, Medical procedures