Assignment You are going to do an an analysis of that product and nd out the; - elasticity of demand. :2 Number of Substitutes == Luxury versus Necessity :2 Income 2 Time Lag - income elasticity. and - cross price elasticity analysis of that product. Please check out pages 17-24 of the slideshare E! of the Elasticity of Coca-Cola as an example. If you have any questions please do not hesitate to email me through Canvas or post a question in our Q&A Cafe.