The following graph depicts the market for doctors. Suppose that the demand for

Question

The following graph depicts the market for doctors. Suppose that the demand for health care services rises due to the aging of the population. This represents a change In. Demonstrate the effect of this change on the market for doctors by shifting the appropriate curve on the following graph. Tool tip: Click and drag one or both of the curves. Curves will snap Into position, so if you try to move a curve and it snaps back to its original position, just try again and drag it a little farther. The previous change represents a shift of the labor curve and movement along the labor curve. Which of the following statements accurately describe this shift? Check all that apply. The decrease in equilibrium wage induces more hospitals to hire doctors. The increase in equilibrium wage induces more people to work as doctors. More doctors are demanded at any given wage. Suppose instead that there is a decrease in the cost of medical school that increases the number of trained doctors. This represents a change primarily in. Demonstrate the effect of this change on the market for doctors by shifting the appropriate curve on the following graph. The previous change represents a shift of the labor curve and movement along the labor curve. Which of the following statements accurately describe this shift? Check all that apply. More people are willing to work as doctors at any given wage. The decrease in equilibrium wage induces more hospitals to hire doctors. The increase in equilibrium wage induces more people to work as doctors.

Explanation / Answer

Demographics, demand

supply, demand

The decrease in equilibrium wage indues more hospitals to hire doctors

demand, supply

The decrease in equilibrium wage indues more doctors

An increase in equilibriumn wage induces more doctors to work.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.