Large harvest of corn should lower

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  1. It is easy to understand why a large harvest of corn should lower the per unit price. Explain how that could actually lower the total receipts farmers get from the corn harvest.
  2. Any demand curve is almost certain to have both an elastic and an inelastic range. Can you give an exception? Is it realistic through the range of all prices and quantities?

At least a paragraph.

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Reference no: EM131715188

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