Use the figure below to answer the following questions. 
Figure 3.5.2
Original equilibrium at 1.
-Refer to Figure 3.5.2,which represents the market for beans.If the price of peas,a substitute for beans,rises,and the cost of producing beans decreases,what is the new beans equilibrium,ceteris paribus?
Definitions:
Equilibrium Price
The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market stability.
Market Price
The price at which goods and services are bought and sold in a competitive marketplace, reflecting supply and demand dynamics.
Price Ceiling
A price ceiling is a government-imposed limit on the price charged for a commodity, with the intention of keeping prices at an affordable level for consumers.
Team Structure
A structure that uses permanent and temporary cross-functional teams to improve lateral relations.
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