Answer: The post-WWII period was one of peace and prosperity. Americans used the money they had saved during World War II to buy consumer goods that were not available during the conflict. With the subsequent boom in the economy, thousands of people found employment in the United States. Americans were making more money and the nation had the highest standard of living in the world.
Price elasticity of demand is a concept which doesn't seem to be worth too much,... like: ' cigarettes sales aren't very affected by price changes because they're... you can use elasticity to figure out if raising or lowering the price is a good idea... it means changing the price will result in a huge change in quantity demanded. how is that answer.?
