If a Professional Organization Imposes Strict Licensing Procedures That Increase

If a professional organization imposes strict licensing procedures that increase entry costs for new members,then labor

A) supply will fall,and the equilibrium wage rate will rise
B) supply will fall,and the equilibrium wage rate will fall
C) supply will rise,and the equilibrium wage rate will fall
D) demand will rise,and the equilibrium wage rate will rise
E) demand will rise,labor supply will fall,and the equilibrium wage rate will rise

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