Consider the market for tomatoes as a perfectly competitive market, and suppose it is currently at a long run equilibrium. then, suppose the fda comes out with a favorable report, saying that tomato consumption reduces cancer. compared to the initial equilibrium, how do the market price and quantity change in the short run?

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.)