Certain Professions Limit the Number of Students Who Are Eligible

question 23

Multiple Choice

Certain professions limit the number of students who are eligible to enroll in their programs in university - engineering,architecture,dentistry,and law,for example.What is the predicted effect of such a policy in each of these professions?

• A)An increase in supply and a wage that is lower than it otherwise would be.
• B)A reduction in supply and a wage that is lower than it otherwise would be.
• C)An increase in supply and a wage that is higher than it otherwise would be.
• D)A reduction in supply and a wage that is higher than it otherwise would be.
• E)These professions are a relatively small portion of the labour market and so there will be no detectible change in wages.

---

Definitions:

Demographic Factors

Attributes of a population such as age, race, gender, income, and education that influence consumer behavior and business strategies.

Internal Data

Information generated from within the organization, used for decision-making, analysis, and strategic planning.

Specific Hours

Defined periods of time during which certain activities or operations are conducted.

Internal Data

Information collected from within an organization for its own use, including operational data, financial records, and personnel details.