From the perspective of corporate management, the use of budgetary slack (chapter 13) A. increases the effectiveness of the corporate planning process B. increases the ability to identify potential budget weaknesses C. encourages the use of effective corrective actions D. increases the likelihood of inefficient resource allocation

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.)