perfectly competitive labor markets the following graph depicts the market for doctors. suppose that a campaign to increase health awareness reduces the number of people requiring hospital treatment. demonstrate the effect of this change on the market for doctors by shifting the appropriate curve on the following graph. note: select and drag one or both of the curves to the desired position. curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. demand supply wage labor demand supply this change represents a shift of the labor curve and movement along the labor curve. which of the following statements accurately describe this shift? check all that apply. fewer people are willing to work as doctors at any given wage. fewer doctors are demanded at any given wage. the decrease in equilibrium wage induces fewer people to work as doctors. suppose instead that there is a decrease in the cost of medical school that increases the number of trained doctors. demonstrate the effect of this change on the market for doctors by shifting the appropriate curve on the following graph. demand supply wage labor demand supply this change represents a shift of the labor curve and movement along the labor curve. which of the following statements accurately describe this shift? check all that apply. the decrease in equilibrium wage induces more hospitals to hire doctors. the increase in equilibrium wage induces more people to work as doctors. more people are willing to work as doctors at any given wage.

Represents a shift of the labor demand curve and moving along the labor supply curve.
The decrease in equilibrium induces fewer people to work as doctors, fewer doctors are demanded at any given wages, and the decrease in equilibrium wages induces more hospital to hire doctors.
Suppose that the popularity of medial drama TV shows increased the number of people who want to be doctors, this change represents a shift of the labor supply curve and movement along the labor demand curve.
More people are willing to work as doctors at any given wages.

Please refer to the first graph.

When the number of people requiring hospital treatment decreases, the labor demand for doctors is decrease. This change will shift the labor demand curve to the left (D'), showing that fewer doctors are needed at an given wages (Q1, P1). The decrease on wages will drive fewer doctors willing to work. However hospital may see this situation as a chance to hire as much as possible doctors since their wages are lower.

Please refer to the second graph for the second scenario.

When the popularity of medical drama TV shows encourage more people to be a doctor, the labor supply curve will shift to the right, indicating the increase of the labor supply at any given wages. This shift will resulting on lower equilibrium wages (Q1, P1) than the initial equilibrium point, but with more labor quantity.

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