The figure below depicts equilibrium in the labor market for nurses.

In the United States, approximately 15% of the population is currently 65 years or older. That number is expected to rise to 22% by 2040. The aging of the population will result in a substantial increase in the need for nurses now and in the future. However, it is also true that this shortage is well known, and many individuals are working towards obtaining the necessary skills to become nurses.

In the figure below, shift a curve or curves to depict both of these changes: that is, the increased need for caring for the elderly and the increase in qualified nurses.