Show what happens to consumer surplus

Reference no: EM133630092

Question: On your graph, show what happens to consumer surplus and to producer surplus when the licensing requirement changes. Explain briefly. Is there a deadweight loss? Show it on the graph and explain it briefly. Be sure to think very carefully about who the consumers (demand side) are in the market for airline pilots and who the producers (supply side) are.

Reference no: EM133630092

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