A Prestigious Private High School Requires Each of Its Teachers

Multiple Choice

A prestigious private high school requires each of its teachers to have a Ph.D. in the subject they teach. This requirement is likely to

A) increase the supply of teachers to this school.
B) increase wages for teachers at the private school relative to those at public schools.
C) decrease the marginal product of teachers at the private school.
D) All of the above are correct.