Please draw on your experiences as a consumer and your Unit 2 readings to address the following 4 topics. Make sure you use economic concepts in your main contribution.

1. Choose a product that you have purchased in the past 1-3 months from a clothing or shoe store.
2. Describe how each of the 4 factors listed above contributed to the elasticity of the good.
3. Is the demand for the product considered elastic, inelastic, or unitary elastic?
4. What effect does the current supply and current demand have on this product?