question archive If the price of a haircut is $10, the number of haircuts provided is 100
If the price of a haircut is $10, the number of haircuts provided is 100
Subject:EconomicsPrice:2.88 Bought3
If the price of a haircut is $10, the number of haircuts provided is 100. If the price rises to $15 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 $10 and $15 using the mid-point method?
