Hi, I hope you are doing great. I need the answer to this question, please. It is over microeconomics I hope you can help me. Thank you so much.

Use an elasticity concept to explain each of the following observations. :1. During economic booms, the number of netsr personal care businesses, such as gyms and tanning salons, is proportionately greater than the number of other new businesses, such as grocery stores. I). Cement is the primary building material in Mexico. After new technology makes cement cheaper to produce, the supply curve for the Mexican cement industry becomes relatively atter. 1:. Some goods that were once considered luxuries, like a telephone. are now considered virtual necessities. As a result, the demand curve for telephone services has become steeper over time. (1. Consumers in a less developed country like Guatemala spend proportionately more of their income on equipment for producing things at home. like sewing machines, than consumers in a more developed country like Canada. Availability of close substitutes Supply elasticity and competition Luxury versus normal good Normal versus inferior goods Availability of close substitutes Supply elasticity and competition Luxury versus normal good Normal versus inferior goods