(Solved): Suppose a sudden shift to the right of the market demand curve for economists leads to rapidly risi ...

Suppose a sudden shift to the right of the market demand curve for economists leads to rapidly rising salaries in this field. So many students respond to this trend by pursuing economics degrees that the market supply curve eventually shifts further to the right than the market demand curve. The eventual result is that the equilibrium: quantity of economists employed will rise, and the equilibrium salary will fall. quantity of economists employed will fall, and the equilibrium salary will rise. salary will rise, but the impact on the equilibrium quantity of economists employed is uncertain. salary will fall, but the impact on the equilibrium quantity of economists employed is uncertain.