The welding workforce (supply) is expected to grow due to a state program that has increased the access of the vocational education programs necessary to become proficient in the profession. Unfortunately, the price of tools to be a welder have gone up. What impact will this development have on the supply of welders?(1 point)

Question

Responses

The supply of welding will be unaffected.
The supply of welding will be unaffected.

The supply of welding will increase.
The supply of welding will increase.

The supply of welding will decrease.
The supply of welding will decrease.

It is impossible to tell.

Answer 1

The correct response is: The supply of welding will be unaffected.

Here's the reasoning: The increase in access to vocational education programs is expected to grow the supply of qualified welders. However, the rise in the price of tools may deter some potential welders from entering the profession, which could counteract the increase in supply. Overall, while the vocational program is increasing supply, the higher tool costs could have a neutral effect, making it uncertain whether there will be a net increase or decrease in supply. Thus, it could be argued that the net supply remains unchanged as the two factors counterbalance each other. However, if we are choosing from the given options, saying "the supply of welding will be unaffected" captures this tension most accurately.