In this part of your paper, you address elasticity of the company you chose. Conduct research for your company and prepare an essay that addresses the following.
- How elastic is the product and/or service?
- If the company needed to increase sales by 40%, what would need to be done (in terms of elasticity)?
- Explain how this would affect both supply and demand.
- Could this affect substitute or complementary products or services? Explain.