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Suppose that there is an increase or expected increase in the price of beef in the local retail market for leather, ceteris paribus. Assume that

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Suppose that there is an increase or expected increase in the price of beef in the local retail market for leather, ceteris paribus. Assume that these two goods are complements in production, that this is a perfectly competitive market and that demand and supply in this market are neither perfectly elastic nor perfectly inelastic. Given this information and under these assumptions, this change or expected change in this market would most likely shift the curve to the , causing market price (P) to and market quantity (Q*) to , causing consumer surplus to , causing producer surplus to and causing total surplus to

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