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After short hair for men became popular, barbers found that their incomes increased. In an attempt to boost their incomes even further, many barbers raised

After short hair for men became popular, barbers found that their incomes increased. In an attempt to boost their incomes even further, many barbers raised the price of a haircut and their total revenue did go up. We can explain this result by arguing that the demand for haircuts by barbers is

unit elastic

inelastic

elastic

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