Workers in a certain occupation will soon require a government issued licence to legally practice in that occupation. To get the new licence workers will need to study and pass an exam and then pay for a licence. Employers who provide this service will need to close their shop unless they employ these licensed employees to serve the public. Based on this information: a) Briefly discuss how in the near term this new development will change the Supply of labour in this occupation. 2 Marks b) Briefly discuss how in the near term this new development will change the Demand for labour in this occupation. 2 Marks c) Briefly discuss how this development with affect the equilibrium wage rate and the number of workers employed in the occupation. 1 Mark