two assignments below

There are 4 factors that influence the price elasticity of demand:

2-4 paragraphs

• The availability of substitutes
• The specific nature of the good
• The part of income spent on the good
• The time consumers have to buy the good

In a 2–4 paragraph Discussion Board post, discuss the following:

• Choose a product you have purchased in the past month from a clothing or shoe store.
• Describe how each of the 4 factors contributed to the elasticity of the good.
• Is the product considered elastic, inelastic, or unitary elastic?
• In a few sentences, what effect does the current supply and current demand have on this product?
• Comment on another student’s posting.

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