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Y = AK[1-Q R W = (1 -Q) AKL- 1 R/P L = Ity N - 4 WP K Y = CSuppose that Q increases

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Y = AK[1-Q R W = (1 -Q) AKL- 1 R/P L = Ity N - 4 WP K Y = CSuppose that Q increases because households have developed a greater preference for leisure relative to consumption. Construct a pair of well-labeled diagrams of equilibrium in the factor markets to show how the change in

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