If the Medical Association in Wonderland were to increase the number of admissio

Question

If the Medical Association in Wonderland were to increase the number of admissions to medical school, what would happen to the pay of doctors in Wonderland? Assume that the number of doctors needed in this area will remain the same. 1) The supply of doctors will increase, 2) shifts the supply curve to the right, 3) and the pay level of doctors will increase. 1) The supply of doctors will increase, 2) shifts the supply curve to the left, 3) and the pay level of doctors will increase. 1) The supply of doctors will increase, 2) shifts the supply curve to the left, 3) and the pay level of doctors will decrease. 1) The supply of doctors will increase, 2) shifts the supply curve to the right, 3) and the pay level of doctors will decrease.

Explanation / Answer

Correct options:

1) The supply of doctors will increase, 2) shifts the supply curve to the right, 3) and the pay level of doctors will decrease. (Demand would remain the same)

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

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