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When the price of sugar was low, consumers in the United States spent a total of $3 billion annually on its consumption. When the price
When the price of sugar was "low," consumers in the United States spent a total of $3 billion annually on its consumption. When the price doubled, consumer purchases actually decreased to $2 billion annually. This indicates that
A) the demand curve for sugar is upward sloping.
B) the demand for sugar is elastic.
C) sugar is a Giffen good.
D) the demand for sugar is relatively inelastic.
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