Let's suppose that the demand for allergists increases in California. assuming there is a perfectly competitive market for allergists in California :
Allergists from other states (or countries) could move to California.
Surgeons, hematologists, and other doctors in California could become allergists after some retraining.
More people could enter medical school, specialize in allergies, and move to California.
A competitive market is an economic term that refers to a market in which there are a large number of buyers and sellers and no single buyer or seller can influence the market. A competitive market has no barriers to entry, many buyers and sellers, and homogeneous products.
In economics, especially general equilibrium theory, perfect markets, also called atomistic markets, are defined by several idealized conditions collectively known as perfect or atomistic competition.
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