Georgia State University Elastic and Inelastic Demand Economics Paper

To do this writing,  you will answer a series of questions in the form of an essay.

Support your answers with research from at least three peer-reviewed journal articles.

Research elasticity information for two particular goods: one with an elastic demand and one with an inelastic demand. Using elasticity information you gather, predict changes in demand. 

The United States Department of Agriculture website has a good resource to help with this.

Describe how marginal analysis, by avoiding sunk costs, leads to better pricing decisions.

Explain the importance of opportunity costs to decision-making and how opportunity costs lead to trade.

Evaluate how better business decisions can benefit not just the producer but the consumer and society as a whole.

In your evaluation, contrast the deontology and consequentialism approaches to ethics.