Which of the following would economists expect to happen in a state that imposes a binding cap (or quota) on the number of licenses available for manicurists and enforces that manicurists must have an occupational license? Group of answer choices There is a decrease in the number of manicurist jobs and the price of getting a manicure decreases There is an increase in the number of manicurist jobs and the price of getting a manicure decreases There is an increase in the number of manicurist jobs and the price of getting a manicure increases There is a decrease in the number of manicurist jobs and the price of getting a manicure increases

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Which of the following would economists expect to happen in a state that imposes a binding cap (or quota) on the number of licenses available for manicurists and enforces that manicurists must have an occupational license?

Group of answer choices

There is a decrease in the number of manicurist jobs and the price of getting a manicure decreases

There is an increase in the number of manicurist jobs and the price of getting a manicure decreases

There is an increase in the number of manicurist jobs and the price of getting a manicure increases

There is a decrease in the number of manicurist jobs and the price of getting a manicure increases

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