The product chosen is Gasoline from Exxon Mobil Company.
This milestone, which covers Section II of Final Project Part I, should be a paper structured as follows:
a Describe the price elasticity of supply or demand for your product or service.
b Explain how two non price factors impact the demand of your chosen product or service.
c Explain how two non price factors impact the supply of your chosen product or service.
d Define the industry and the market equilibrium associated with the product or service.
e Predict the effect of changes in supply and demand on the market equilibrium.
f Describe the decisions related to supply and demand for the product or service that you would make based on the predicted changes in supply and demand on the market equilibrium.
For additional details, please refer to the Part I Milestone One Guidelines and Rubric document and the Final Project Part I Guidelines and Rubric document in the Assignment Guidelines and Rubrics section of the course.