Consider the market for medical doctors. suppose the opportunity cost of going to medical school decreases for many individuals.

Question

3 years ago

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Consider the market for medical doctors. suppose the opportunity cost of going to medical school decreases for many individuals.

suppose it generally takes about ten years to become a practicing doctor. holding all else constant, in ten years the equilibrium wage for doctors will

Business

1 answer:

Dmitry_Shevchenko [17] · Answer 1 · 2022-06-05T06:04:19+03:00

Answer:

Increase.

Explanation:

The quantity that exists when a market is in equilibrium. Equilibrium quantity is simultaneously equal to both the quantity demanded and quantity supplied. In a market graph, the equilibrium quantity is found at the intersection of the demand curve and the supply curve.