Are there any externalities affecting the market? Are there any behavioral quirks present in the market?

Choose a good or service and provide a description of the market based on what we have covered in this class.Some questions you should answer for this section are “What is the market structure? Who are the buyers and sellers? Is demand elastic? Are there any externalities affecting the market? Are there any behavioral quirks present in the market?” You can answer different questions as long as they are relevant to class material and you have a good amount of economic discussion on the market, but you must cover something from each section of the course.No SourcePlease refer to the knowledge of microeconomics and apply as many knowledge points as possible.