When supplying labour in the education sector, professors take into account the wage a worker such as themselves could potentially earn in an alternate sector. Let w be the wage in education and Wa be the expected wage in an alternate sector. A. When Waincreases: Labour supply in education will** ________ and labour demand in education will** ________. B. If the quantity of labour supplied in education is given by Ls = 4w, graph the labour supply curve. The graph has slope ________ and vertical intercept ________ Suppose two professors are attracted by the increase in the alternative wage and leave the education sector. The new quantity supplied of labour will be equal to Ls' = Ls-2. On the same graph, draw the new labour supply curve. It has slope ________ and vertical intercept ________. C. After the two professors leave, the equilibrium wage will** ________ and the number of professors working in this sector will** ________. Demonstrate why using your graph (you may sketch any representative demand curve).