Jane: Why haven't you got a moustache [STRIKE]and[/STRIKE] or a beard yet? John: [STRIKE]The[/STRIKE] My hair [STRIKE]is not growing[/STRIKE] doesn't grow because of a hormonal imbalance.
See above. I have made it clear (by adding names) that this only works as a dialogue. It wouldn't make sense for the same person to say both sentences.
"Moustache" and "beard" don't have to go together. That's why I changed it to "or". Someone could keep a moustache but shave the rest of the hair off their face (and vice versa).
Note the addition of the articles.
Note that your question would only work in a culture where having a moustache and/or beard is an expectation for boys/men. In many other parts of the world, someone might ask a teenage boy "Are you shaving yet?" The question is designed to find out whether the boy is experiencing facial hair growth yet. Schoolboys here wouldn't go to school with facial hair.
If you're very good friends with Tim, he might not mind the intrusive question about why he doesn't have any hair (on his face or anywhere else) yet. However, if you know him that well, you would probably already know that he has a hormonal imbalance.