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The following graph shows the market for peanut butter in Philadelphia, where there are over 1,000 s

The following graph shows the market for peanut butter in Philadelphia, where there are over 1,000 stores that sell peanut butter at any given moment. Suppose the price of hazelnut spread increases. (Assume that people regard peanut butter and hazelnut spread as substitutes.)Show the effect of this change on the market for peanut butter by shifting one or both of the curves on the following graph, holding all else constant

 

Apr 25 2020 View more View Less

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