For which situation would we expect the adjustment speed to be the fastest?
A) The demand for surgeons increases.
B) A large increase in birth rates leads to an increase in elementary school teachers.
C) The demand for movie videos increases.
D) The demand for office space in downtown Chicago increases.

Question

Quizplus · Accepted Answer

The demand for movie videos is a relatively fast-moving industry, and adjustments to changes in demand can be made quickly through online streaming services and video-on-demand platforms. In contrast, professions such as surgeons and elementary school teachers may take several years for new individuals to complete the necessary education and training to enter the market. Similarly, the construction of office space in downtown Chicago may take significant time and resources, leading to slower adjustment speeds.

For Which Situation Would We Expect the Adjustment Speed to Be