Ask Question
1 August, 00:10

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

+3
Answers (1)
  1. 1 August, 00:32
    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.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If a product is inelastic how will consumers respond to a price increase ...” in 📗 History if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers