Suppose That This Graph Describes the Current Labor Market for High

question 21

Multiple Choice

Suppose that this graph describes the current labor market for high school teachers:
Given the wage equal to W*,immediately following a shift of the supply curve to the left

• A) there will be a shortage of certified teachers.
• B) there will be an excess supply of certified teachers.
• C) the reservation wage of each remaining teacher will fall.
• D) the market will be in equilibrium.

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