When the second Boeing 737 Max crash occurred the 737 Max was grounded. Originally Boeing and Southwest thought the problem could be fixed quickly and expeditiously with a software update and pilot training. As time passed, the FAA and other governing bodies around the world made it increasingly difficult for Boeing to re-certify and return the 737 Max to service. Instead of months, the grounding stretched to over a year with no end in sight. Discuss the following 3 issues using economic theory and terminology. 1. At what point, does Southwest lay off workers but continue to fly a reduced schedule? What economic logic do they use to make their decision 2. At what point, does Southwest cancel all schedule flights, both 737 and 737 Max. until the 737 Max returns to service? What economic logic do they use to make their decision? 3. At what pointdoes Southwest go out of business, either declaring bankruptcy or selling all their assets including their fleet of planes. What economic logic do they use to make their decision