### Question Description

Help me study for my class. I’m stuck and don’t understand.

Compute the price elasticity of demand for paint and show your calculations.Decide whether the demand for paint is elastic, unitary elastic, or inelastic.Explain your reasoning and interpret your results.

question 2 There are 4 factors that influence the price elasticity of demand:

The availability of substitutesThe specific nature of the goodThe part of income spent on the goodThe time consumers have to buy the goodIn your Discussion Board post, discuss the following:

Choose a product that you have purchased in the past month from a clothing or shoe store.Describe how 2 of the 4 factors contributed to the elasticity of the good.Is the product considered elastic, inelastic, or unitary elastic?In a few sentences, what effect does the current supply and current demand have on this product?