Phi Upsilon Nu, a student social organization, has two different locations under consideration for constructing a new chapter house. PhUN's president, a POM student, estimates that due to differing land costs, utility rates, etc., both fixed and variable costs would be different for each of the proposed sites, as follows: ANNUAL OPERATING COSTS LOCATION FIXED VARIABLE Alpha Ave. $5,000 $200 per person Beta Blvd. $8,000 $150 per person What would be total annual costs for either location at the point of indifference

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.)