Answer Happy

Suppose that colleges add degrees across majors that are accelerated, meaning that students can complete their degree in 3 years instead of the traditional 4. Suppose more people now attend college. A. Draw what happens in the labor market for staff at colleges when colleges decide to offer accelerated degrees. Now suppose that staff at colleges are expected to work harder and cannot take as many coffee breaks. B. On a different graph, draw what happens in the labor market for staff at colleges when staff cannot take as many coffee breaks. C. Now combine your graphs from parts A and B (put both shifts on same graph). What do you know for sure about wages and quantity of labor supplied?