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Consider the market for peanut butter. If there is a decrease in the price of deli turkey slices (a

Loraine

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Consider the market for peanut butter. If there is a decrease in the price of deli turkey slices (a

Consider the market for peanut butter. If there is a decrease in the price of deli turkey slices (a substitute in consumption for peanut butter) along with a decrease in the price of peanut brittle (a substitute in production for peanut butter), the
A) equilibrium price of peanut butter definitely falls.
B) equilibrium quantity of peanut definitely decreases.
C) equilibrium price of peanut butter might rise or fall.
D) equilibrium quantity of peanut butter definitely increases.
E) equilibrium price of peanut butter definitely rises.

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Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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Sydnie

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9 years ago

I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile

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