Answer to Question #132797 in Macroeconomics for prettygirl

Question

Peanut crops have been destroyed by fungus. Consumers are substituting almond butter for peanut butter, because they perceive it to be a healthier option. The prices of both peanut butter and almond butter are rising Why?

To help you to figure this out, draw a supply and demand graph for peanut butter and Almond butter for yourself (not to submit it to me). But, if you can scan it then do that. If not, describe your graphs in words.

Answer 1

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