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Macroeconomics Problem

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Question;The following diagram illustrates the;market for nurses.;Part 1: Americans are living longer and, as;a result, need more medical care throughout their lives. Use a line drawing;tool to show the effect of this demographic change on either the supply of or demand;for nurses. Label the new curve D2 or S2.;Part 2: Suppose that at the same time as this;demographic change occurs, more college students decide to major in nursing.;Use a line drawing tool to show the effect of this change on either the supply;of or demand for nurses. Label the new curve D2 or S2.;Part 3: Use the double drop line tool to show the;new equilibrium price and quantity in the market after both of these changes.;Label this new point E2.

 

Paper#56762 | Written in 18-Jul-2015

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