Aeronautical engineers are a factor of production for airplanes.What will happen in the world market for airplanes when there is a worldwide shortage of aeronautical engineers?

Question

Quizplus · Accepted Answer

A worldwide shortage of aeronautical engineers will result in an increase in the cost of hiring aeronautical engineers or a higher salary being required to attract more individuals to enter the field. As a result, the cost of producing airplanes will increase, causing the price to rise. The decrease in the supply of aeronautical engineers will also limit the number of airplanes that can be produced, resulting in quantity exchanged being reduced.

Aeronautical Engineers Are a Factor of Production for Airplanes