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?
◦ Price will increase; quantity exchanged will increase.
◦ Price will decrease; quantity exchanged will decrease.
◦ Price will decrease; quantity exchanged will increase.
◦ Price will increase; quantity exchanged will decrease.
◦ There will be no change in price or quantity exchanged.