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Several members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix
Several members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. A. Market for Computer Software Programmers B. Market for K-12 Teachers Wage rate Wage rate 3 O Q. Q s Q , O Quantity of Computer Quantity of K-12 Teachers Software Programmers Refer to Figure 1 1-1. If the law were to impose a wage rate of WA on the K-12 teachers market, what would the expected result be? The demand for K-12 teachers would decrease. O A shortage of K-12 teachers would soon result . A quantity of Q2 teachers would be supplied to the marketplace. O There would be pressure from market forces for the supply to fall
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