Question

Here's my essay question. I don't need you to write the paper for me, I'm just really stupid and I need someone to explain the concepts to me.

Choose two real-world companies in different industries, one that you feel faces elastic demand and one that you feel faces inelastic demand. In each case, you are an economist working in the company and you have come to a conclusion of what kind of demand the company faces. You are to write a paper, convincing the president of the company of your conclusion and explaining what the company's pricing strategy should be.