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abruzzese [7]
3 years ago
12

If a product is inelastic how will consumers respond to a price increase

History
1 answer:
zavuch27 [327]3 years ago
6 0
Consumer demand for the product will stay the same because people need to have it no matter the cost. They will buy it no matter how much the price increases. This applies to things like medicine.
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Answer:

<h2>False</h2><h3>Yes, there was great prosperity following World War II, but for the most part minorities were left out of that prosperity.</h3>

Explanation:

There was a post-war economic boom in the United States after World War II.  There was also significant population growth, which caused an expansion of cities into suburbs.  The prices of homes in suburbs were more affordable to middle class families, due to lower land prices and new building practices like tract housing. With the growth of the suburbs, improvement of roadways became a priority.  Highway improvement was also a priority of President Eisenhower for the sake of national security.   The Federal-Aid Highway Act passed in 1956 allocated $26 billion (in 1956 dollars!) to a monumental road-building effort that created the interstate highway system.  

The growth of the suburbs had a negative counter-effect, however. Suburban culture had the tendency to segregate white Americans in the suburbs from blacks in the cities' inner core neighborhoods, leading to racial segregation and inner city poverty issues that we're still dealing with today.

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