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Problem 1: On the graph, identify the pre-tax market equilibrium price and quantity. Then, based on the scenario given, shift the appropriate curve and show

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Problem 1: On the graph, identify the pre-tax market equilibrium price and quantity. Then, based on the scenario given, shift the appropriate curve and show the price consumers pay, price producers receive, and quantity bought and sold in the market. Always label graphs fully. (a) Scenario 1: Property taxes increase for homeowners. Market is homes. (b) Scenario 2: The United States Social Security tax where employees pay 6.2% of their salary in tax and employers also pay 6.2% of the salary in tax. Market is the market for labor at a business

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