This assignment is an opportunity to explore the various things which affect demand, supply, and elasticity of demand in your industry. Revisit the “Challenge Yourself” activity in the Working with Supply and Demand Models lecture and review your textbook as well as lecture readings on the topic of things which shift demand and supply curves, then answer the following: What is the final output product that is being produced in your chosen industry? (What final good or service is being produced?) What things are apt to affect demand for this product? (In other words what might shift the demand curve for the final product/service?) What things are apt to affect supply for this product? (In other words what might shift the supply curve for the final product/service?) Would you say that demand for this product is elastic or inelastic? Why? Please be careful to integrate course terms and concepts in your submission. Back up your ideas with MLA style source references
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