Answered: The price of a haircut recently rose…

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?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 23AA

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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?

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