A heavy rainstorm damages this year’s crop of peanuts. The price of peanut butter increases. What will happen to the demand of jelly? Answer the 3 questions below related to this scenario. Complete sentences are not required. Please number each answer. 1. Will there be an increase or decrease? 2. Which way will the graph shift? 3. What is the determinant?
A heavy rainstorm damages this year’s crop of peanuts. The price of peanut butter increases. What will happen to the demand of jelly? Answer the 3 questions below related to this scenario. Complete sentences are not required. Please number each answer. 1. Will there be an increase or decrease? 2. Which way will the graph shift? 3. What is the determinant?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A heavy rainstorm damages this year’s crop of peanuts. The
Answer the 3 questions below related to this scenario.
Complete sentences are not required. Please number each answer.
1. Will there be an increase or decrease?
2. Which way will the graph shift?
3. What is the determinant?
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