Business Economics - Chippies and Hair Salons Hit Hard by Cost of Living Crisis

The Local Data Company are reporting that the extent to which the cost of living crisis is affecting different types of retailer varies, with fish and chip shops and hair salons among the worst affected. It's mainly energy costs, and the cost of foodstuffs that's still driving this, and changing the composition of the High Street.

If you are a student, can you draw a cost and revenue curve to show the impact on business profits? Which market structures best describe industries such as hair salons and fish and chip shops?

Please read: UK hair salons and chippies among indie shops ‘most hit’ by cost of living crisis (The Guardian)