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

Micro, a. Suppose the demand for saline solution is perfectly inelastic for...

a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what hap

Describe classical economics, Q. Describe Classical Economics? Classica...

Q. Describe Classical Economics? Classical Economics:Tradition of economics which began with Adam Smith and continued with other theorists including Thomas Malthus, David Ricar

Explain the main problems with government intervention, Question: i) Ex...

Question: i) Explain the main problems with government intervention. ii) Why and how do governments seek to control monopolies? iii) A country should specialise in the pr

Nash equilibrium, what is a sub game perfect Nash equilibrium

what is a sub game perfect Nash equilibrium

How to solve major economic problem as a CS engineer, how to solve major ec...

how to solve major economic problem as a computer engineer

Innovation theory of profit, concept of innovation theory of profit and cri...

concept of innovation theory of profit and criticism

What is unit labour cost, Q. What is Unit Labour Cost? Unit Labour Cost...

Q. What is Unit Labour Cost? Unit Labour Cost: How much an employer pays for labour needed to produce each unit of a good or service. Unit labour cost can be computed by dividi

Third degree price discrimination, Question: Third degree price discriminat...

Question: Third degree price discrimination Suppose that a monopolist faces two markets with demand curves given by D(p 1 ) = 100 - p 1 D(p 2 ) = 100 - 2p 2 Assume that

Advantages of Trade Surplus, What are the advantages of trade surplus

What are the advantages of trade surplus

#title., factor afecting the demand for durable product

factor afecting the demand for durable product

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