An increase in the demand for medical schools will

Name: An increase in the demand for medical schools will
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in the demand for medical schools will increase tuition at these institutions,but it will also increase the supply of new physicians.Physicians will become less scarce leading to lower wages.As the price of this input falls,the supply curve for services rendered by physicians shifts to the right,leading to an expansion in services and a decrease in price.

An Increase in the Demand for Medical Schools Will