Question: 0 6 5 . 1 8 . MANKO 9 Consider the market for medical doctors. Suppose the opportunity cost of going to medical school decreases

065.18 .

MANKO

9

Consider the market for medical doctors. Suppose the opportunity cost of going to medical school decreases for many individuals. Suppose, it generally takes about io years to become a practicing doctor. Holding all else constant, in

10

years the equilibrium wage for doctors will

.

It is not possible to determine what will happen to the equilibrium wage.

.

increase.

.

decrease.

.

not change.

0 6 5 . 1 8 . MANKO 9 Consider the market for

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