Factors that contribute to the elasticity

Explain the factors that contribute to the elasticity of goods:
1-discuss in detail the influences of price elasticity of demand
2-explain the factors that contribute to the elasticity of goods
3-discuss how these factors influence consumers to purchases goods or services
4-explain how price elasticity of demand relates to microeconomics
5-give a real life example of a good that shows elasticity of demand
6-incorporate the real life example into your discuss
7-explain if the good is elastic, inelastic, or unitarily elastic and why

900 word essay

Solution Summary

The factors that contribute to the elasticity and real life examples