The figure above shows the demand and supply curves for high-skilled (indicated by an "H" subscript) and low-skilled (indicated by an "L" subscript) workers.
-In the figure above,if the cost of acquiring the skill decreased,then the

Question

Quizplus · Accepted Answer

A decrease in the cost of acquiring the skill would increase the supply of skilled workers, therefore shifting the SH curve rightward. This would result in a decrease in the equilibrium wage and an increase in the equilibrium quantity of skilled workers. The other options are incorrect as they do not reflect the impact of a decrease in the cost of acquiring the skill on the curves.

The Figure Above Shows the Demand and Supply Curves for High-Skilled