All else equal, if the supply of veterinarians continues to increase while the population of dogs and cats continues to decline, the incomes of veterinarians will

Question

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If the supply of veterinarians continues to increase while the population of dogs and cats continues to decline, the demand for veterinary services will decrease. This decrease in demand will result in excess supply in the market, which will push down the price of veterinary services. In turn, this will lead to a decline in the incomes of veterinarians.

All Else Equal, If the Supply of Veterinarians Continues to Increase