or each following sceneries, draw a market in equilibrium, labeling the initial equilibrium price and equilibrium quantity. Then shift the appropriate curve and label the new equilibrium price and equilibrium quantity. Next, complete the sentences by indicating increase or decrease to describe changes to the market. 5.1 There is an increase in wages, and this is an inferior good: The equilibrium price will ___________ and the equilibrium quantity will ____________. 5.2 There is an increase in the price of a relevant resource used to produce this good: The equilibrium price will ___________ and the equilibrium quantity will ____________. 5.3 There is a removal of the one of the government's requirements to produce this good: The equilibrium price will ___________ and the equilibrium quantity will ____________. 5.4 There is an increase in the price of the substitute good of this good: The equilibrium price will ___________ and the equilibrium quantity will ____________