Question: Barbers and Brain Surgeons for an Aging Population Consider Greyland, a regional economy where th...

Barbers and Brain Surgeons for an Aging Population Consider Greyland, a regional economy where the smallest city with a barber has a population of 10,000 (NB = 10,000) and the smallest city with a brain surgeon has a population of 200,000 (NS = 200,000). Over the next 10 years, the average age of Greyland will increase. The aging process affects heads in two ways: hair volume decreases and the frequency of brain problems increases. Predict the qualitative effect of the aging of the population on the ratio NS//NB. Explain. Suppose the average age doubles. The elasticity of haircuts with respect to the average age is 1.0 and the elasticity of brain surgery with respect to average age is +1.0. Predict the quantitative effect (numbers) of the aging of the population on the ratio NS/NB.