Figure 9.2 depicts the outpatient market for physical therapy services. If rapid entry of new graduates pushed down wage...
Figure 9.2 depicts the outpatient market for physical therapy services. If rapid entry of new graduates pushed down wages of therapists, how would the equilibrium price and quantity change (P* and Q*)?
A. P* and Q* would both rise.
B. P* and Q* would both fall.
C. P* would fall, and Q* would rise.
D. P* would rise, and Q* would fall.
Homework Answers
If rapid entry of graduates pushed down the wages, this means the supply increases and the supply curve shifts to the right and this implies the equilibrium quantity rises and price actually falls all in all.
therefore (C) is the answer to this question
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Finishing Project so i need this ASAP please ( IN 1-2-3 HOURS
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