The purpose of this exercise requires an application of elasticity to the selected product (food) in South Africa. Students are required to use the practical application of elasticity to the selected product in South Africa. Assume that maize is a staple food in South Africa. This means that if there is no maize, South Africans will die. You are therefore required to do the following:

Qustion

Use the price elasticity of demand analysis to discuss whether you expect the demand for maize to be elastic or inelastic. Explain why?

Provide references to support your answers