Let's assume you are a manager of a retail store. Please identify an elastic and inelastic good that you would sell at your store. How would you be able to tell whether the good is elastic and inclastic (please relate to the characteristics of elasticity). Analyze the challenges of raising prices on both elastic and inelartic goods that you identify and the impact on total revenue. Let's assume you are a manager of a retail store. Please identify an elastic and inelastic good that you would sell at your store. How would you be able to tell whether the good is elastic and inclastic (please relate to the characteristics of elasticity). Analyze the challenges of raising prices on both elastic and inelartic goods that you identify and the impact on total revenue