1). Do We Need Another Movie Like "Top Gun?" The US military has claimed that there may soon be a shortage of fighter pilots. The Pentagon predicts that f actions are not taken the shortage will get much larger in the coming 3-5 years. As background nformation, you should know that both the demand and wages of commercial pilots has risen over the past ive years (which you should see as a substitute for military pilots). 1). First, graph and explain economically what the Pentagon might mean by a shortage? (note: the demand for fighter pilots is fairly inelaştic) Would micro see this shortage as an inefficiency? If so, show the deadweight loss. ). Provide two efficient solutions to solve the coming shortage of fighter pilots and graphs your solutions.

1). Do We Need Another Movie Like "Top Gun?" The US military has claimed that there may soon be a shortage of fighter pilots. The Pentagon predicts that f actions are not taken the shortage will get much larger in the coming 3-5 years. As background nformation, you should know that both the demand and wages of commercial pilots has risen over the past ive years (which you should see as a substitute for military pilots). 1). First, graph and explain economically what the Pentagon might mean by a shortage? (note: the demand for fighter pilots is fairly inelaştic) Would micro see this shortage as an inefficiency? If so, show the deadweight loss. ). Provide two efficient solutions to solve the coming shortage of fighter pilots and graphs your solutions.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter6: Supply, Demand And Government Policies

Section: Chapter Questions

Problem 8PA

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