Explain how does the price elasticity of demand for corn oil

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Q. Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil? Explain, using economic terms, why this is so.

Q. defenders of comunist economic systems may point out that consumers pay lower pricesfor certain goods because government imposes a limit on what producers may charge. Cite at least two other ways that consumers may be paying for these goods?"

Reference no: EM1356413

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