Medical schools announce that residents in plastic surgery can be licensed after only five years instead of the current seven years.

It seems that medical schools have announced a change in licensing requirements for plastic surgery residents. This could potentially lead to an increase in the number of available surgeons, which would shift the supply curve to the right. As a result of this increased supply, the equilibrium price could decrease while the quantity of available surgeons increases. It will be interesting to see how this change affects the industry as a whole.