Assignment title: Management


Listen to (or read the transcript of) this podcast (https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-16-elasticity-of-demand) from the Federal Reserve Bank of St. Louis. In your own words, describe your experience with price elasticity as a consumer. Provide an example of an inelastic good and an elastic one for your household. What makes those goods elastic or inelastic? How might other households respond differently? Please answer in 150 words or more. Use your own words - do not copy and paste from a web site. Be sure to reference your sources