Question
https://www.youtube.com/watch?v=CNCjdAuCbZA&t=5s In 2013, that FAA ruled that before a pilot can be granted an Airline Transport Pilot License, they must accrue 1500 hours total flight
https://www.youtube.com/watch?v=CNCjdAuCbZA&t=5s
In 2013, that FAA ruled that before a pilot can be granted an Airline Transport Pilot License, they must accrue 1500 hours total flight time, which was a significant jump from the previous standard of 250 hours. Watch the short recent youtube video "Stupid Government Rules Create a Pilot Shortage" and address the following:
a. By using graph on how this increase in the licensing requirement impacts the market for airline pilots. Show the market equilibrium before (with the lower licensing requirement) and after (with the tougher license requirement). What happens to price, quantity, and consumer and producer surplus when the licensing requirement changes? Who wins and who loses from this increased regulation? Explain briefly. NEED HELP WITH GRAPH
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