Question: 4.8 Suppose the demand function for carpenters is Q = 100 - w, and the supply curve is Q = 10 + 2w - T,

4.8 Suppose the demand function for carpenters is Q = 100 - w, and the supply curve is Q = 10 + 2w - T, where Q is the number of carpenters, w is the wage, and T is the test score required to pass the licensing exam. By how much do the equilibrium quantity and wage vary as T increases? (Hint: See the Application “Occupational Licensing.”) M

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