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For each of the following events, draw a marketsupply and demand graph schedule that illustrates the likely effecton equilibrium price ( P e * )
- For each of the following events, draw a marketsupply and demand graph schedule that illustrates the likely effecton equilibrium price (Pe*) and quantity(Qe*). (30 points)
- The general rental rate of capital-an input cost-risesprecipitously.
- The general wage rate paid to laborers falls.
C) Consumer incomedeclines.
- For each of the following events, draw a marketsupply and demand graph schedule that illustrates the likely effecton equilibrium price (Pe*) and quantity(Qe*). (30 points)
- The general rental rate of capital-an input cost-risesprecipitously.
- The general wage rate paid to laborers falls.
C) Consumer incomedeclines.
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