The market for manicures and other nail treatments is very competitive. How would the following developments affect the number of nail treatments that a typical nail salon wants to supply in the short run?
The market for manicures and other nail treatments is very competitive.
How would the following developments affect the number of nail treatments that a typical nail salon wants to supply in the short run?
-Heightened concern about their appearance causes people to want more manicures at a given price.
-The government requires all nail salons to pay a new yearly licensing fee to operate.
-Worse job prospects elsewhere in the economy cause more people to want to become
-manicurists, causing the wages of manicurists to fall.
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