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Question
Which of the following could explain the relatively high wages earned by certain medical professionals, like nurse practitioners and physicians?(1 point)

The age of our population leads to a relatively low quantity of labor demanded at any given wage.
The age of our population leads to a relatively low quantity of labor demanded at any given wage.

The age of our population leads to a relatively high quantity of labor supplied at any given wage.
The age of our population leads to a relatively high quantity of labor supplied at any given wage.

The training and certification required for these professions lead to a relatively low quantity of labor supplied at any give wage.
The training and certification required for these professions lead to a relatively low quantity of labor supplied at any give wage.

The training and certifications required for these professions lead to a relatively high quantity of labor supplied at any given wage.

Answer :

The relatively high wages earned by certain medical professionals, like nurse practitioners and physicians, are due to C. training and certification required for these professions lead to a relatively low quantity of labor supplied at any given wage.

  • It should be noted that some of the things that influence the amount of wages or salaries that are paid to a person include their education, certifications, and the skills that they possess.

  • Medical practitioners are usually paid higher wages due to the fact that they spend more years before they get their certifications and degrees. Also, their job is a delicate one and requires a lot of experience.

  • Therefore, due to this reason, there is usually a fewer number of people who do such courses which then leads to a relatively low quantity of labor supplied.

In conclusion, the low level of labor supplied leads to a higher wage offered.

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Answer:

The training and certification required for these professions lead to a relatively low quantity of labor supplied at any give wage.

Explanation: