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