n one to two sentences, use the concepts of quantity of qualified providers and level of demand for labor to explain which ocupations are likely to experience the lowest wages. (2 points)

Answer 1

Occupations with a high quantity of qualified providers relative to a low level of demand for labor are likely to experience the lowest wages, as the saturation of workers creates competition for limited job opportunities, driving compensation down. Conversely, if demand for labor increases without a corresponding rise in qualified providers, wages may rise due to the scarcity of workers.