How is a cost-leader protected from threats from powerful suppliers? It is able to create a significant difference between perceived value and current market prices. It is more able to absorb price increases through generating higher profit margins. It is able to create a significant difference between actual value and future market prices. It is more able to absorb price increases through accepting lower profit margins.

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.)