Elasticity

With the introduction of the benefits of markets to improving outcomes for producers and consumers and examining the role of costs and prices in decision-making. Please answer the below questions in the form of an essay. Support your answers with research from at least three peer-reviewed journal articles.

1. Research elasticity information for two particular goods: one with elastic demand and one with inelastic demand. Using elasticity information you gather, predict changes in demand. TheUnited States Department of Agriculture websitehas 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 a 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.

must beat leastthree pages in length (not counting the title and references pages) and include at least three peer-reviewed resources, including citations and references for sources used. Be sure to include an introduction. Please note that no abstract is needed.