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Elasticity of Supply Elasticity of supply depends on the ease of changing the amount of an item supplied. Anton has 4 barber chairs in his

Elasticity of Supply

Elasticity of supply depends on the ease of changing the amount of an item supplied.

  1. Anton has 4 barber chairs in his shop, but only 3 stylists working at a time. Is the supply of haircutsElasticorInelastic? Explain youanswer.
  2. Anton has increased his number of stylists to working 4 at a time. If the price continuesto rise, is the supply of haircutsElasticofInelastic? Explain youranswer.

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