Suppose that you observe that the wages for accountants in your town have gone up and that the number of accountants employed has also gone up. Which one of the following conditions could explain this? Illustrate your answer with a graph and explain in a brief paragraph.
a. Businesses are failing, reducing the need for accountants.
b. Many accountants are leaving the field in order to train to become financial analysts instead.
c. A rash of business scandals has increased the demand for auditing services performed by accountants. d. The local university has just graduated an unusually large group of accountants.