Two TransWorld Airline mechanics failed to properly repair the landing gear of a 747. As a result, the plane’s landing gear collapsed on takeoff and the plane caught fire. Several passengers were injured. While racing to the scene of the crash, an airport fire truck blew a tire and hit a light pole. The pole fell onto Carl’s car, smashing the trunk and damaging the new Blu-Ray DVD player store there. The injured passengers and Carl sued TWA and the mechanics. Are TWA and the mechanics liable to the injured passengers? To Carl?

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.)