Demographers predict that the average age of the population of the U.S.will increase.One result will be an increase in the demand for nurses.Assume that the graph below describes the current nursing labor market in a mid-sized city,and that the market is a competitive one.
In the long run,if the nursing market is perfectly competitive,the demographic shift that increases the demand for nurses is likely to

Question

Demographers predict that the average age of the population of the U.S.will increase.One result will be an increase in the demand for nurses.Assume that the graph below describes the current nursing labor market in a mid-sized city,and that the market is a competitive one. 
In the long run,if the nursing market is perfectly competitive,the demographic shift that increases the demand for nurses is likely to

Quizplus · Accepted Answer

According to the law of demand, an increase in demand leads to an increase in price (in this case, wages) in a perfectly competitive market. As the demand for nurses increases due to the demographic shift, the wages for nurses are likely to increase, providing a greater incentive for people to choose nursing as a career. Therefore, choice A is the best answer. Choices B and C are incorrect because they assume that the market is not perfectly competitive, and choice D is incorrect because the demand for nurses is not likely to shift back to the original level if there is a persistent shortage of nurses.

Demographers Predict That the Average Age of the Population of the U.S.will