Since teachers are an input in the production of education, when teacher salaries increase

Question

Quizplus · Accepted Answer

When teacher salaries increase, the cost of producing education goes up, leading to a decrease in the supply of education because it becomes more expensive for schools to offer the same amount of education. This does not directly affect the demand for education or teachers, but rather the quantity of education that can be supplied at a given price.

Since Teachers Are an Input in the Production of Education