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 September 24, 2018, 10:17 am ad1c9bdddf - https://brainmass.com/economics/economics-issues/elastic-demand-60106
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