Answer:
The equilibrium quantity falls and the effect on the equilibrium wage of radiologists is indeterminate.
Explanation:
Here are the options to this question :
What is likely to happen to the equilibrium wage and quantity of radiologists following these twoevents?
A) The equilibrium wage and the equilibrium quantity of radiologists fall.
B) The equilibrium quantity falls and the effect on the equilibrium wage of radiologists is indeterminate.
C) The equilibrium wage falls and the effect on equilibrium quantity of radiologists isindeterminate.D
) The equilibrium wage and the equilibrium quantity of radiologists rise
As a result of event A, there would be a decrease in the demand for radiologists. As a result, there would be a leftward shift of the demand curve for radiologist. This would lead to a reduction in equilibrium price and quantity
As a result of event B, there would be a decrease in the supply radiologists. As a result, there would be a leftward shift of the supply curve of radiologist. This would lead to a reduction in equilibrium quantity and a rise in equilibrium price.
Taking these two effects together, the equilibrium quantity falls and the effect on the equilibrium wage of radiologists is indeterminate.
Answer:
true
Explanation:
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