1. The link between resource and product markets The following graph represents the labor market in the accounting industry in a hypothetical economy. Suppose the board of accountancy loosens the qualification requirements for accountants in this economy, thereby attracting more people into this profession. Assuming all other things are constant, show the effect of this change on the labor market for the accounting industry by shifting one or both of the curves in the following graph. Labor Market in the Accounting Industry Supply Demand Supply Demand EMPLOYMENT IN ACCOUNTING SERVICES INDUSTRY WAGE RATE

1. The link between resource and product markets The following graph represents the labor market in the accounting industry in a hypothetical economy. Suppose the board of accountancy loosens the qualification requirements for accountants in this economy, thereby attracting more people into this profession. Assuming all other things are constant, show the effect of this change on the labor market for the accounting industry by shifting one or both of the curves in the following graph. Labor Market in the Accounting Industry Supply Demand Supply Demand EMPLOYMENT IN ACCOUNTING SERVICES INDUSTRY WAGE RATE

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Resource Market

Section: Chapter Questions

Problem 2.4P

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