When the Price of Sugar Was "Low", Consumers in the U.S.spent

question 148

Multiple Choice

When the price of sugar was "low", consumers in the U.S.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:

• A)The demand for sugar is inelastic.
• B)The demand curve for sugar is upward sloping.
• C)The quantity demanded of sugar increased.
• D)None of the statements associated with this question are correct.

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Definitions:

Flowstone

Any deposit of calcium carbonate or other mineral formed by flowing water on the walls or floor of a cave.

Cone of Depression

A reduction in the water table around a well after water has been pumped out, creating a conical shape.

Overpumping

The extraction of groundwater at a rate faster than it can be replenished, leading to a depletion of water resources.

Polluted Well

A well where water is contaminated with harmful chemicals, biological agents, or other pollutants, making it unsafe for consumption.