The diagram below shows the supply and demand for labour in a hypothetical town in northern British Columbia,with only one employer,a logging company.
FIGURE 14- 4
-Suppose that the professional association of dentists reduces entry into their profession by lengthening the required training program.The likely effect is that

Question

The diagram below shows the supply and demand for labour in a hypothetical town in northern British Columbia,with only one employer,a logging company.
  FIGURE 14- 4
-Suppose that the professional association of dentists reduces entry into their profession by lengthening the required training program.The likely effect is that

Quizplus · Accepted Answer

Reducing entry into the dental profession will decrease the supply of dentists, causing the supply curve to shift to the left. This will likely lead to an increase in the equilibrium wage and a decrease in the quantity of dentists employed. The demand for dentists is not directly affected by the professional association's decision and therefore the demand curve will not shift.

The Diagram Below Shows the Supply and Demand for Labour