Microeconomics Comic Strip
Barbershop and Haircut business representing supply and demand.
"Best Barbershop Ever", -Christian
This is the Herr Kutterz Barbershop. This barbershop consists of the best barbers in the country.
10$ Hair Cuts
The Herr Kutterz Barbershop provides the best haircuts money can buy. Service provided by this barbershop can range anywhere from 15$-30$.
Due to the town only having one barbershop, supply was low. Hair cuts from Herr Kutterz became highly demanded. This allowed them to charge higher prices for their haircuts.
This was before more barbershops arrived to the town. They arrived charging lower prices, thus lowering demand for Herr Kutterz and forcing to them to lower their prices.
Because of the lack of demand for their quality service, Herr Kutterz Barbershop took to social media to advertise their barbershop.
This has brought back more demand to their business. They will not be able to charge as much as they use to and will be forced to keep the prices low due to competition.
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