“Demand and Supply and Elasticity” Please respond to the following:
- Discuss one (1) recent price change that you have noticed while visiting your local supermarket. Determine whether or not the price change that you identified was a result of a change in either supply or demand.
- Identify two (2) elastic and two (2) inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.
