Which of the following would economists expect to happen in a state that imposes a binding cap (or quota) on the number of licenses available for manicurists and enforces that manicurists must have an occupational license? Group of answer choices There is a decrease in the number of manicurist jobs and the price of getting a manicure decreases There is an increase in the number of manicurist jobs and the price of getting a manicure decreases There is an increase in the number of manicurist jobs and the price of getting a manicure increases There is a decrease in the number of manicurist jobs and the price of getting a manicure increases
Which of the following would economists expect to happen in a state that imposes a binding cap (or quota) on the number of licenses available for manicurists and enforces that manicurists must have an occupational license? Group of answer choices There is a decrease in the number of manicurist jobs and the price of getting a manicure decreases There is an increase in the number of manicurist jobs and the price of getting a manicure decreases There is an increase in the number of manicurist jobs and the price of getting a manicure increases There is a decrease in the number of manicurist jobs and the price of getting a manicure increases
Chapter5: Supply, Demand, And Price: Applications
Section5.12: Application 12: Are Renters Better Off?
Problem 2ST
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Which of the following would economists expect to happen in a state that imposes a binding cap (or quota) on the number of licenses available for manicurists and enforces that manicurists must have an occupational license?
Group of answer choices
There is a decrease in the number of manicurist jobs and the price of getting a manicure decreases
There is an increase in the number of manicurist jobs and the price of getting a manicure decreases
There is an increase in the number of manicurist jobs and the price of getting a manicure increases
There is a decrease in the number of manicurist jobs and the price of getting a manicure increases
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