Unit II Essay 2 - Research elasticity information

Running head: UNIT II ESSAY 1

UNIT II ESSAY 2

1. 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. 

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

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

4. 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. 

Your essay must be at least three pages in length (not counting the title and references pages) Adhere to APA Style when writing your essay, including citations and references for sources used. Be sure to include an introduction. Please note that no abstract is needed.