A 40% increase in price led the quantity supplied of bicycles in a competitive market to increase from 320.00 to 350.00. What is the price elasticity of supply for bicycles?What is the best description of the price elasticity of supply for bicycles?A. inelastic
B. elastic
C. normal
D. unitary elastic

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.)