On the same graph paper, draw theSupply Curvefor theSupply Schedule below, after Anton discovered a faster way to shampoo hair.

Anton's Barber Shop New Supply Schedule

Price per Haircut

Quantity of Haircuts Supplied per day

$6

30

$8

40

$10

50

$12

60

$14

70

$16

80

1. What happened to the graph? Which direction did it move (right orleft)?
2. Make a prediction: What would happen to the graph if the price of shampoodoubled?

Elasticity of Supply

Elasticity of supply depends on the ease of changing the amount of an item supplied.

1. Anton has 4 barber chairs in his shop, but only 3 stylists working at a time. Is the supply of haircutsElasticorInelastic? Explain youanswer.
2. Anton has increased his number of stylists to working 4 at a time. If the price continuesto rise, is the supply of haircutsElasticofInelastic? Explain youranswer.