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Which of the following might lead to an increase in the equilibrium price of jelly and a decrease in the equilibrium quantity of jelly sold? a. An increase in the price of peanut butter, a complement

Which of the following might lead to an increase in the equilibrium price of jelly and a decrease in the equilibrium quantity of jelly sold?

a. An increase in the price of peanut butter, a complement to jelly.

b. An increase in the price of Marshmallow Fluff, a substitute for jelly.

c. An increase in the price of grapes, an input to jelly.

d. An increase in consumers' incomes, as long as jelly is a normal good.

May 08 2021 View more View Less

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