Consider the labor market for heath care workers,which is in equilibrium.Because of the aging population in the United States,the output price for health care services has increased.Holding all else equal,what effect does this have on the equilibrium quantity of health care employees?

Question

Quizplus · Accepted Answer

An increase in the output price for health care services will increase the revenue earned by health care providers. As a result, the demand for health care workers will increase, shifting the labor demand curve to the right. The equilibrium quantity will increase as the new equilibrium point will be at a higher quantity of health care workers.

Consider the Labor Market for Heath Care Workers,which Is in Equilibrium.Because