Cost of corn is low and patrons in the US spend 3 billion yearly on its consumption. The cost has doubled, patron spending in reality has gone up to 4 billion yearly. This is an a sign of?© BrainMass Inc. brainmass.com October 24, 2018, 7:11 pm ad1c9bdddf
None of the above as demand for corn is inealstic
say original price is 1 , new price is 2 then change in ...
This discusses the concept of elastic demand supported by the example
Elasticity, Demand, and Total Revenue
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