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The price of peanut butter falls. If P1 and Q1 are the current equilibrium price and quantity of jelly, then how will the jelly market

  1. The price of peanut butter falls. If P1 and Q1 are the current equilibrium price and quantity of jelly, then how will the jelly market be affected by the drop in the price of peanut butter? Analyze this case in three steps.

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