Problemif the price of a haircut is 15 the number of, Ask an Expert

Economics

Problem

If the price of a haircut is $15, the number of haircuts provided is 100. If the price rises to $30 per haircut, barbers will work much longer hours, and the supply of haircuts will increase to 300. What is the price elasticity of supply for haircuts between $15 and $30?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92754806

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