1. How does global economic competition impact the price elasticity in the domestic market and decisions related to the strategy a firm uses to

1. How does global economic competition impact the price elasticity in the domestic market and decisions related to the strategy a firm uses to compete?2. Who have been the winners and losers as a result of NAFTA (Countries in NAFTA trade agreement are the U.S., Canada and Mexico)? Explain your answer. *Please include all necessary references!