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New scientific reports indicate that the consumption of corned beef increases the risk of bowel cancer while the price of pastrami, a primary substitute for

  1. New scientific reports indicate that the consumption of corned beef increases the risk of bowel cancer while the price of pastrami, a primary substitute for corned beef has increased significantly. Illustrate the likely effects of these events on short run equilibrium price and quantity in the market for corned beef.

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