Lori teaches singing. her fixed costs are $1,000 a month, an, economics, Microeconomics

Price | Quantity demanded
_________________________
0 250
50 200
100 150
150 100
200 50
250 0

A) Calculate Lorie''s profit-maximizing output, price, and economic profit.

B) Do you expect other firms to enter the singing lesson business and compete with Lorie?

C) What happens to the demand for Lorie''s lessons in the long run? What happens to Lorie''s economic profit in the long run?
Posted Date: 3/5/2012 10:52:27 PM | Location : United States







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