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Show, using supply and demand for labor diagrams for Divisions I and III, the effects of...

Show, using supply and demand for labor diagrams for Divisions I and III, the effects of a new rule allowing Division III schools to pay athletes a one-time bonus for enrolling at their schools. Make sure to label all curves and axes

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Answer #1

1. The demand to enroll in Division III schools will get increased as a one-time bonus is given for enrollment of athletes. So the demand for labors in Division III will get increased. This will shift the demand curve to the right. So it will increase wages and the supply of labor will get extended. This increases the quantity of labor.

The demand for Division I schools will get decreased as substitute school is having more demand. Semand curve for division I school shifts left side. This will push down wages paid to the labors in these schools. As wage is less, the supply of labor for these school will fall. So it will contract the supply curve. The quantity of labor for this school will get decreased.

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