Evaluate this statement: People engaged in economizing behavior will always buy the lowest priced item they can find. (5 marks) A terrible storm wipes out 70 percent of the peanut crop. Explain and show graphically, using comparative statics, how this will affect the market for peanut butter. (6 marks) Given the scenario in part b and the assumption that peanut butter and jelly are complements, explain the effect that this supply shock will have on the market for jelly. (Merka) For 0oobapron ALTF10 PCjcrALT-FNF10 gMac TTIM TE AI RXIO wp