← Lorie teaches singing. Her fixed costs are $1,000 a month, and it costs her $50 of labor to give one class. The table shows the demand schedule for Lorie's singing lessons. In the long run, the demand for Lorie's lessons her economic profit *** OA. decreases; falls to zero OB. decreases; increases OC. increases; increases OD. increases; falls to zero and Price (dollars per lesson) 0 50 100 150 200 250 Quantity demanded (lessons per month) 250 200 150 100 50 0

← Lorie teaches singing. Her fixed costs are $1,000 a month, and it costs her $50 of labor to give one class. The table shows the demand schedule for Lorie's singing lessons. In the long run, the demand for Lorie's lessons her economic profit *** OA. decreases; falls to zero OB. decreases; increases OC. increases; increases OD. increases; falls to zero and Price (dollars per lesson) 0 50 100 150 200 250 Quantity demanded (lessons per month) 250 200 150 100 50 0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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