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5. Illustrate in appropriate diagram (change in demand or change in supply) the impact on the good or service of the following events: (3 points

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5. Illustrate in appropriate diagram (change in demand or change in supply) the impact on the good or service of the following events: (3 points each) A. Nominal income of consumers rise and potatoes are considered inferior goods B. Buyers of gold expect that the price of gold will decrease in the near future C. Producers of gold expect that the price of gold will rise in the near future D. Longer and more occurrences of strong typhoons affected the country's major agriculture crops E. Population increases affecting the market for automobiles

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