Supply and Demand

Supply and Demand - Supply and Demand The Wall Street...

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Supply and Demand
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The Wall Street Journal reported that recent law school graduates were having a very difficult time obtaining jobs in the legal profession. Many law schools said that 10 to 20 percent of their graduates still had not found jobs. The historical average had been 6 to 8 percent. Many recent graduates were taking jobs outside law at much lower wages than were typically paid to beginning lawyers. Based on this information, what would be your prediction about lawyers’ salaries for the future? Please explain your answers in terms of the market for lawyers fully explaining what changes will occur to demand, supply, quantity demanded, quantity supplied, and equilibrium price for lawyers (starting wages for lawyers). Respond to at least two of your fellow students’ postings. Respond Collapse All Print View »Show Options Responses Response Aut hor Date/Time*
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The demand for lawyers may not be decreasing, rather, the supply of lawyers the market is receiving may be higher than what is
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This note was uploaded on 07/07/2011 for the course BUSINESS 350 taught by Professor Mitchell during the Fall '09 term at Troy.

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Supply and Demand - Supply and Demand The Wall Street...

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