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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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