Help plz Lorie teaches singing. Her fixed costs are $1,000 a month,and it costs her $50 of labor to give one class. The tableshows the demand schedule for Lorie's singing lessons.Will other firms enter the singing lesson business andcompete with Lorie?Other firmsbecauseA. will not; very few people want to take singinglessonsOB. will; singing lessons have low fixed costsC. will not; Lorie is incurring an economic lossOD. will; Lorie is making an economic profit%5enter the singing lesson businesst6y&7Ou*80OPrice(dollars per lesson)050100150200250(9O✓0Quantity demanded(lessons per month)250200150100500NextpmptsES C10

Given Demand schedule: Price ($ per lesson) Quantity demanded (lesson per month) 0 250 50…

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. Will other firms enter the singing lesson business and compete with Lorie? Other firms because *** enter the singing lesson business OA. will not; very few people want to take singing lessons B. will; singing lessons have low fixed costs O c. will not; Lorie is incurring an economic loss OD. will; Lorie is making an economic profit 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. Will other firms enter the singing lesson business and compete with Lorie? Other firms because *** enter the singing lesson business OA. will not; very few people want to take singing lessons B. will; singing lessons have low fixed costs O c. will not; Lorie is incurring an economic loss OD. will; Lorie is making an economic profit Price (dollars per lesson) 0 50 100 150 200 250 Quantity demanded (lessons per month) 250 200 150 100 50 0

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 1PA

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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. Will other firms enter the singing lesson business and compete with Lorie? Other firms because enter the singing lesson business OA. will, singing lessons have low fixed costs B. will; Lorie is making an economic profit Oc. will not; Lorie is incurring an economic loss OD. will not very few people want to take singing lessons Price (dollars per lessom) 150 250 Quantity demanded lessons per month) 250 200 11:00 10 Next
The following graph plots daily cost curves for a firm operating in the competitive market for fitness trackers. Hint: Once you have positioned the rectangle on the graph, select a point to observe its coordinates. PRICE(Dollars pertracker) 100 90 70 60 50 40 20 10 0 0 MO ATC AVC 50 60 70 80 10 20 30 40 QUANTITY (Thousands of trackers per day) 90 100 Profit or Loss In the short run, given a market price equal to $45 per tracker, the firm should produce a daily quantity of trackers. On the preceding graph, use the blue rectangle (circle symbols) to fill in the area that represents profit or loss of the firm given the market price of $45 and the quantity of production from your previous answer. Note: In the following question, enter a positive number regardless of whether the firm earns a profit or incurs a loss. The rectangular area represents a short-run thousand per day for the firm.
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Don't use chatgpt or any AI A profit-maximising firm in a competitive market is currently producing 1,000 units of output. It has average revenue of $50, average total cost of $40 and fixed cost of $10,000. a) What is its profit? b) What is its marginal cost? c) What is its average variable cost? Is the efficient scale of the firm more than, less than or exactly 1,000 units?
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Chapter 16 Homework PRICE (Thousands of dollars per fire engine) 220 Femi 200 180 160 140 120 100 80 60 40 20 0 0 True 1 False 2 4 56 7 QUANTITY (Fire engines) 3 8 Demand 9 10 increase production from 8 to 9 fire engines because the True or False: If alternatively Femi's HookNLadder were a competitive firm and $80,000 were the market price for an engine, decreasing its price from $80,000 to $40,000 would result in the same change in the production quantity and, thus, total revenue. Revenue Lost Revenue Gained dominates in this scenario.
pleas give ne correct answwrr with explanation and dont use chatGPT
100 90 80 70 60 ATC 50 40 30 20 AVC МС О 10 + 0 0 5 10 15 20 30 35 40 45 50 QUANTITY (Thousands of shirts) or each price in the following table, use the graph to determine the number of shirts this firm would produce in order to maximize its profit. Assume hat when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero shirts and the profit-maximizing uantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will nake a profit, suffer a loss, or break even at each price. Price Quantity (Dollars per shirt) (Shirts) Profit or Loss? Produce or Shut Down? Shut down 10 20,000 Loss Shut down 20 10,000 Loss Shut down 32 5,000 Loss Either 0 or 37,500 Shut down 40 Loss 25 COSTS (Dollars)
Solve all this question......you will not solve all questions then I will give you down?? upvote.....
O 1) R. 2) S. 3) U. 4) T. RSTU Quantity (per period)
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