Which of the following graphs represents what will happen to the equilibrium wage and quantity of labor when the government increases the requirements for licensure for a particular occupation? (9 points)
The graph that represents what will happen to the equilibrium wage and quantity of labor when the government increases the requirements for licensure for a particular occupation is Graph D.
In Graph D, the supply curve shifts to the left, indicating a decrease in the quantity of labor supplied due to increased licensure requirements. This results in a higher equilibrium wage and a lower equilibrium quantity of labor in the market.
Graphs A, B, and C do not accurately represent what happens when the government increases licensure requirements for a particular occupation. Graph A shows a decrease in demand, Graph B shows an increase in demand, and Graph C shows no change in supply or demand.
Therefore, Graph D is the correct representation of the effects of increased licensure requirements on the equilibrium wage and quantity of labor.