If a Professional Organization Imposes Strict Licensing Procedures That Increase

question 16

Multiple Choice

If a professional organization imposes strict licensing procedures that increase entry costs for new members,then labor

• A)supply will fall,and the equilibrium wage rate will rise
• B)supply will fall,and the equilibrium wage rate will fall
• C)supply will rise,and the equilibrium wage rate will fall
• D)demand will rise,and the equilibrium wage rate will rise
• E)demand will rise,labor supply will fall,and the equilibrium wage rate will rise

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