1. Suppose that Devon's landlord starts charging a $5 fee for each haircut Devon provides, and that nothing else changes.

a.) Make a table showing Devon's new marginal cost for each of the first 4 haircuts. You can determine Devon's original marginal cost for each haircut by looking at the height of his supply curve in Figure 4.3.

b.) Make a table showing Devon's new supply schedule; include quantities for each of the prices listed in Table 4.1.

c.) Draw Devon's original supply curve and his new supply curve after he must pay his landlord $5 per haircut.

Table 4.1 Firm Supply Schedules and the Market Supply Schedule for Haircuts Price Quantity Quantity Quantity Total per Supplied Supplied Supplied Quantity Haircut by Devon by by Supplied Eleanor Francis by Market $10 1 O O 1 20 2 30 2 4 40 UI 50 3 N 60 4 70 4 9 For the purposes of this chapter, let's suppose that all hairstylists provide identical services. We'll also suppose that all