Southeast airline had retained earnings of $1.5 million, sales of $5 million and net income of $0.5 million this year. it also paid dividends of $0.2 million this year. if the sales is projected to increase by 20% next year, what is the projected retained earnings for next year? assume that all ratios will stay constant.

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.)