If the price of a haircut is $10, the number of haircuts provided is 140. If the price rises to $15 per haircut, barbers will work much longer hours, and the supply of haircuts will increase to 200. Instructions: Round your answer to two decimal places. The price elasticity of supply for haircuts between $10 and $15 using the mid-point method is:

If the price of a haircut is $10, the number of haircuts provided is 140. If the price rises to $15 per haircut, barbers will work much longer hours, and the supply of haircuts will increase to 200. Instructions: Round your answer to two decimal places. The price elasticity of supply for haircuts between $10 and $15 using the mid-point method is:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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