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Being that the government stepped in and increase the number of flight hours needed to become a pilot, would this be an example of a
Being that the government stepped in and increase the number of flight hours needed to become a pilot, would this be an example of a price support system? With the tighter licensing regulation, what would the market look like for airline trips? Even with tighter regulations and increased prices, flight demand is increasing. How would consumers and airlines be affected? What would consumer and producer surplus look like? What would this look like on a graph?
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