When it comes to the supply curve of janitors and accountants,
A)the supply curve of janitors is more elastic.
B)the supply curve of accountants is more elastic.
C)both supply curves are equally elastic.
D)More information is needed.

Question

Quizplus · Accepted Answer

The supply curve of janitors is more elastic as compared to the supply curve of accountants. This is because the barriers to entry for Janitorial work are generally lower, and there are often more people that are able to do the job. Therefore, if the wage rate for janitors were to increase, more people would be willing and able to enter the labor force as janitors, leading to a more significant increase in the quantity supplied. The barriers to entry for accounting, on the other hand, are generally higher. Hence, if the wage rate for accountants were to increase, there may not be as many people able and willing to enter the accounting profession, leading to a less dramatic increase in the quantity supplied.

When It Comes to the Supply Curve of Janitors and Accountants