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When the price of sugar was low, U.S. consumers spent a total of $3 billion annually on sugar consumption. When the price doubled, consumer expenditures
When the price of sugar was "low," U.S. consumers spent a total of $3 billion annually on sugar consumption. When the price doubled, consumer expenditures remained at $3 billion annually. This data indicates that Multiple Choice O the demand curve for sugar is perfectly Inelastic. O the demand curve for sugar is upward sloping O the demand for sugar is elastic, O the quantity demanded of sugar increased
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