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5.) For each of the following events, draw a market supply and demand graph schedule that illustrates the likely effect on equilibrium price (Pe) and

5.) For each of the following events, draw a market supply and demand graph schedule that illustrates the likely effect on equilibrium price (Pe) and quantity (Qe).

A) The general rental rate of capital-an input cost-rises precipitously.

B) The general wage rate paid to laborers falls.

C) Consumer income declines

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