Identify a good or service you believe is likely to have elastic demand and explain why. Identify a good or service you believe is likely to have inelastic demand and explain why. Identify a good or service you believe is likely to have unitary elastic demand and explain why. Identify at least two factors that can affect a good or service's level of elasticity. Explain why business owners would want to know whether the demand for their goods or services is considered elastic, inelastic, or unitary elastic