Differential chemical produced 10,000 gallons of preon and 20,000 gallons of paron. joint costs incurred in producing the two products totaled $7,500. at the split-off point, preon has a market value of $6.00 per gallon and paron $2.00 per gallon. compute the portion of the joint costs to be allocated to preon if the value basis is used. a. $2,500. b. $3,000. c. $4,500. d. $5,625. e. $1,500.

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.)