Certain skilled labor, such as hair cutting, requires licensing or certification. This is costly and takes a long time to acquire. If this licensing requirement were removed, the price elasticity of supply for haircuts would: multiple choice decrease, or become less elastic, because more people could enter the occupation. decrease, or become more elastic, because more people could enter the occupation. increase, or become more elastic, because more people could enter the occupation. increase, or become less elastic, because fewer people could enter the occupation.

8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut.for should be given.which businesses should cut hair? check all that apply.firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply.bobchoseanyvettethe maximum possible total surplus is