I need help with this question.

Had to watch this 5 min video linked here

:https://www.youtube.com/watch?v=CNCjdAuCbZA&ab_channel=JohnStossel

I need to create a graph that shows the impact of licensing regulation on the market for airline flights. It needs to show:

• How Consumers and Airlines are affected (look at flight prices, quantities, and consumer/producer surpluses)

My thoughts on this:

• I am having a hard time with this because I think the second demand would still go through the same Price point because Elasticity is at play here. I think this would then align with the video
  • What would the graph look like?
  • Two, is there elasticity at play here? If so, can you explain
  • Does this graph align with the video?