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In 2011, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. Suppose the effect on the buyers was larger than the effect on the sellers. Consequently, in the current market for peanut butter there is a ________ in the price of peanut butter and ________ in the quantity of peanut butter.

rise; an increase

rise; a decrease

fall; a decrease

fall; an increase

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91229044

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