Costs for rent and utilities are fixed by contract, and the two shops produce the same flavor of ice cream. the owner of company a is considering lowering the price of its ice cream, starting a price war with company b in an effort to grab market share from its competitor. would it be a wise decision for company a to enter a price war with company b?

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)