Certain skilled labor, such as hair cutting, requires licensing or certification, which is costly and takes a

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Certain skilled labor, such as hair cutting, requires licensing or certification, which is costly and takes a long time to acquire. Explain what would happen to the price elasticity of supply for haircuts if this licensing requirement were removed.

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Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

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Question Posted: Nov 27, 2015 02:09 AM

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Certain skilled labor, such as hair cutting, requires licensing or certification, which is costly and takes a

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The price elasticity of supply would increase become ...View the full answer

Microeconomics

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