Calculate Lories profit-maximizing output, price, and economic profit. Lorie teaches singing. Her fixed costs are $1,000 a

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Calculate Lorie’s profit-maximizing output, price, and economic profit.

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. image text in transcribed

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:03 PM

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Calculate Lories profit-maximizing output, price, and economic profit. 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...
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Calculate Lories profit-maximizing output, price, and economic profit. Lorie teaches singing. Her fixed costs are $1,000 a

Question:

Price (dollars per lesson) 0 50 100 150 200 250 Quantity demanded (lessons per month) 250 200 150 100 50 0

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Economics

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