The mission of the microeconomic perspective is to explain relative prices,market equilibrium and income distribution. In response to the current COVID-19pandemic, there was/is an ongoing need for Personal Protective Equipment (PPE)for first responders and associated medical and law enforcement personnel. Froma strategic IT perspective, how does the following business aspects effectcurrent and future planning:o High Influenceo Dynamic Marketo Price Elasticityo Demand and Supply Elasticity Is there a valid shortage of PPE or was there a business motive to gainfinancially to satisfy the market equilibrium demands? Write a 5 to 7 paper to research and present any other strategic ITdiscussion making presented during this course for support of your researchWriting Requirements 5-7 pages in length (excluding cover page, abstract, and reference list) Include at least 5 peer reviewed sources found in the Potomac Libraryproperly cited and referenced and your course textbook APA format, Use the APA template located in the Student Resource Center tocomplete the assignment. Please use the Case Study Guide as a reference point for writing your casestudy.