Multiple Choice
Assume that the graph below describes the current labor market for nurses in a mid-sized city and that the labor market is perfectly competitive. 
If supply shifts from S₀ to S₁ and demand shifts from D₀ to D₁, then the equilibrium wage will ________, and the equilibrium number of nurses will ________.
A) stay the same; stay the same
B) stay the same; increase
C) increase; stay the same
D) increase; increase
Correct Answer:
Verified
Correct Answer:
Verified
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