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.