Considering the situation described above, to adjust to this event, he consumes more peanut butter and less ice cream.
This is because the price of the ice cream has increases, thereby following the law of demand and supply, which means the higher the price, the lower the demand.
Similarly, since the price of peanut butter remains the same, it is expected that Smedley would consume more of it.
Hence, in this case, it is concluded that the correct answer is more and less, respectively.
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