3) Begin with the respective market in equilibrium. Read each of the following situations, taking note of the market and the events that take place. Evaluate the impact on the market. a) Market: Peanut Butter (6 points) Event: The price of jelly increases and a drought reduces the peanut crop. b) Market: Automobiles Event: Consumers expect lower prices of automobiles in the future and new technology I lowers automobile production costs. (6 points) c) Market: Automobiles Event: Consumers expect higher auto loan interest rates in the future (6 points) d) Market: Urban Housing Event: More people move into the urban area from the rural areas (6 points) e) Market: Delivery services Event: Wages of delivery workers increase (6 points)