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The demand curve for haircuts at Terry Bernard's Hair Design is p=20-0

Economics

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The demand curve for haircuts at Terry Bernard's Hair Design is

p=20-0.20Q

whereQisthenumber ofcuts per week and Pis the price of a haircut. Terry is consid eringraisingherpriceabove the current price of $15. Terry is unwilling to raise price if the price hike will cause revenues to fall.