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3 months ago
Consider the market for nurses in a given city. In each of the following cases, explain what happens to the equilibrium wage rate and the quantity of nurses hired.
a.One of the major hospitals in the city closes.
b.A record number of students graduate with bachelor's degrees in nursing.
c.Traditionally, nursing is a field that attracts women. However, changes in access to education
and to the labor force participation rate by women have led to a greater demand for the services of women in a wide range of occupations. The demand for nurses, however, does not change.
d.Advances in medical technology reduce the amount of time physicians must spend with
patients in intensive care and increase the time that nurses spend with patients.
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Microeconomics
Edition: 7th
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wrote...
Posts: 206
3 months ago
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a.The demand curve shifts to the left. The equilibrium wage decreases and the equilibrium
quantity of nurses hired decreases.
b.The supply curve shifts to the right. The equilibrium wage decreases and the equilibrium
quantity of nurses hired increases.
c.The supply curve shifts to the left. The equilibrium wage increases and the equilibrium quantity
of nurses hired decreases.
d.The demand curve shifts to the right. Both the equilibrium wage and the quantity of nurses
hired increase.
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wrote...
3 months ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
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