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When the price of corn was low, consumers in the United States spent a total of $8 billion annually on its consumption. When the price

When the price of corn was "low," consumers in the United States spent a total of $8 billion annually on its consumption. When the price halved, consumer expenditures actually DECREASED to $6 billion annually. What does this indicate: the demand for corn is elastic, or the demand for corn is inelastic

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