What happens to lories economic profit in the long run

Reference no: EM13191844

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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?

Reference no: EM13191844

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