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1.The market for manicures and other nail treatments is very competitive. How would the following developments affect the number of nail treatments that a typical
1.The market for manicures and other nail treatments is very competitive. How would the following developments affect the number of nail treatments that a typical nail salon wants to supply in the short run?
a. Heightened concern about their appearance causes people to want more manicures at a given price.
b. The government requires all nail salons to pay a new yearly licensing fee to operate.
c. Worse job prospects elsewhere in the economy cause more people to want to become manicurists, causing the wages of manicurists to fall.
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