Peter parker, the hr vice-president of a well-known it firm, called his team members for a meeting to discuss the measures to be taken by the company to fight recession. peter suggested downsizing the workforce and also cutting salaries and benefits of the rest of the employees. peter's team reached a consensus without critically testing, analyzing, and evaluating his ideas. this is an example of

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.)