What happens to the existing theaters’ profits

Reference no: EM131301056

Dave's Song and Dance Extravaganza is entering the competitive market of dinner theater in Columbus, Ohio. How does Dave's entry into this market affect the market price? What happens to the number of shows that existing theaters will produce? Assuming they were profitable before Dave's entry, what happens to the existing theaters' profits? Use two graphs, one for the market and one for the existing firms, to illustrate your answer.

Reference no: EM131301056

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