Question the american medical association is considering, Ask an Expert

Economics

Question: The American Medical Association is considering putting a permanent cap on the number of medical residents (which effectively would cap the number of licensed doctors). What effect would this cap have if it were set below the current number of doctors?

1) Lower wages for existing and future doctors

2) Higher wages for existing doctors

3) Higher wages for existing and future doctors

4) The cap would have no impact on wages for doctors

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92587198

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