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







Related Discussions:- Lori teaches singing. her fixed costs are $1,000 a month, an, economics, Assignment Help, Ask Question on Lori teaches singing. her fixed costs are $1,000 a month, an, economics, Get Answer, Expert's Help, Lori teaches singing. her fixed costs are $1,000 a month, an, economics Discussions

Write discussion on Lori teaches singing. her fixed costs are $1,000 a month, an, economics
Your posts are moderated
Related Questions
short run equilibbrium

Question 1 Discuss the short-run cost-output relations Question 2 Write a short note on pure competition Question 3 Describe excess profit criterion Question 4 Disc

"Consider a market with n firms occupied in Bertrand competition. These firms have in common dissimilar marginal costs but any number of them may also have equivalent marginal cost

Calculate the cross-price elasticity of demand between computers and printers, where a 10 percent decrease in the price of computers results in a 15 percent increase in the quantit

what are the solutions to cost push inflation

Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en

What are the three major types of unemployment?   a) Frictional b) Structural and c) Cyclical unemployment. Cyclical unemployment is broadly spread by an economy durin

Materials Requirements Calculations - MRP System MRP is a computer-based 'engine' which carries out calculations in order to determine:  What is needed, and When i

1.  National Marine Fisheries Service is considering closing a large area of federal waters to fishing in Alaska due to negative interactions of fishing with endangered Steller sea

ASIAN DEVELOPMENT BANK; In addition to the World Bank family, there are three other international lending agencies operating only in specific geographical area, but run on lin