7. Shifts in supply or demand I The following graph shows the market for peanut butter in Miami where there are over 1,000 stores that sell peanut butter at any given moment. Suppose the price of hazelnut spread decreases. (Assume that people regard peanut butter and hazelnut spread as substitutes.) Show the effect of this change on the market for peanut butter by shifting one or both of the curves on the following graph, holding all else constant. Supp Supply QUANTITY (Jars) Now suppose Congress passes a new tax that decreases the income of Miami resi decrease If peanut butter is a normal good, this vill cause the demand for peanut butter to increase