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JAMB Economics 2009 Question 12

Question 12

Labour Market

The short-run supply curve for medical doctors is more likely to be

  1. A.perfectly elastic
  2. B.perfectly inelastic
  3. C.fairly inelastic
  4. D.fairly elastic
Show the answer and explanation

Answer: B (perfectly inelastic)

Explanation

Training a doctor takes many years, so in the short run the number of doctors cannot change whatever the pay.