Part B On the attached graph paper, draw the Supply Curve for the Supply Schedule below. Anton's Barber Shop Supply Schedule Price per Haircut $6 $8 Quantity of Haircuts Supplied per day 20 30 $10 40 $12 $14 $16 50 60 70 3. When the price of a haircut goes down, in what direction does the quantity supplied move on the Supply Curve? Why? 4. The price of a haircut recently rose significantly, but Anton decided he could get along with the same number of workers (i.e. he did not raise his supply) What might happen as a result?

Part B On the attached graph paper, draw the Supply Curve for the Supply Schedule below. Anton's Barber Shop Supply Schedule Price per Haircut $6 $8 Quantity of Haircuts Supplied per day 20 30 $10 40 $12 $14 $16 50 60 70 3. When the price of a haircut goes down, in what direction does the quantity supplied move on the Supply Curve? Why? 4. The price of a haircut recently rose significantly, but Anton decided he could get along with the same number of workers (i.e. he did not raise his supply) What might happen as a result?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 20P

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