Suppose the number of medical school graduates continues to increase over the next decade. Which of the following is true?
A) Physicians' salaries must fall.
B) Physicians' salaries must rise.
C) Physicians' salaries will fall only if the demand for medical services falls.
D) Physicians' salaries will fall if the demand for medical services rises more than the supply of physicians rises.
E) Physicians' salaries will rise if the demand for medical services rises more than the supply of physicians rises.
Correct Answer:
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