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

Assignment Help:

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?

Related Discussions:- Lori teaches singing. her fixed costs are $1,000 a month, an, economics

Demand, factors influencing the conditions of demand for a given product

factors influencing the conditions of demand for a given product

Oligopoly, criticism of cournot model

criticism of cournot model

Demand curve, Suppose D1 represents the demand curve for paperback novels, ...

Suppose D1 represents the demand curve for paperback novels, D2 represents the demand curve for gasoline,S1 represents the supply curve for paperback novels and S2 represents the s

Indifference curve, assigment

assigment

Compute the following price elasticities of demand, #• The price of a lapto...

#• The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan

Production process, Production Process: Production is a process that t...

Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma

What is market clearing level and public good, What is market clearing leve...

What is market clearing level and public good? Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity f

Primary research methods, We discussed why economists prefer to use availab...

We discussed why economists prefer to use available statistics and econometric techniques over other means of measuring consumer demand. Write a short essay describing a situation

Define the term entrepreneurship, Define the term Entrepreneurship Ent...

Define the term Entrepreneurship Entrepreneurship : An entrepreneur is an individual who takes risks and organises the factors of production to make a product and therefore

Effects of advertising on the demand curve, The Effects of Advertising on t...

The Effects of Advertising on the Demand Curve: Advertising targets to: • Change the slope of the demand curve which means make it more inelastic. This is done by generat

Write Your Message!

Name

Email id

Message

Verfication Code

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages