An increase in the market price of men’s haircuts from $20 to $30 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 35 to 40. When the market price remains at $30 for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 55
What is the short run price of elasticity of supply?
What is the long run price of elasticity of supply?
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