Assignment Instructions: 1. Select one of the three items below. 2. Create a post (maximum 250 words) in response to the item you have selected. 3. Review other student posts and comment on 3 of those posts. Do you agree/disagree? Why/Why not? Item 1: On your weekly grocery shopping trip, you notice that the price of ground beef has gone up $0.50 per kilogram. How with this price increase impact the demand for ground beef, ground turkey, and hamburger buns? Explain your answer in terms of the price elasticity of demand. Item 2: Though the practice is not illegal, many firms operating over the internet have been experimenting with charging different consumers different prices for the same product or service. Since stores in different parts of the country might have different prices, some websites require postal code information before providing prices. Why would retailers charge different prices in different marks or postal codes? Is it ethical for retailers to do so? Is it a good business practice? Item 3: You and your two roommates are starting a pet grooming service to help you put yourself through university. There are two other well-established pet services in your area. Should you set your price higher or lower than that of your competition? Explain/justify your