Concord corporation is preparing its direct labor budget for may. projections for the month are that 34400 units are to be produced and that direct labor time is three hours per unit. if the labor cost per hour is $15, what is the total budgeted direct labor cost for may?

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.)