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This gives her the advantage x tructure.com/courses/26817/quizzes/120463/take D Question 36 1 pts Luciana is the owner of a nail salon. Last year, her total revenue was $145,000, her rent was $12,000, her labor costs were $65,000, and her overhead expenses were $15,000. From this information, we know that her accounting proft was $145,000. $53,000 $65,000 $15,000. $27.000. 1 pts D Question 37 curve is much in the long run The entry and exit of firms ensure that the market than in the short run. O demand; more elas O demand: more inelas O supply, closer to vertical O supply more supply; more elastic

Explanation / Answer

36) The correct answer to this question is $53,000.

Luciana's total profit will be $53,000 that is her Total revenue - all the expenses.

37) The Entry and Exit of the Firm, ensure that the market "demand" curve is "More elastic" in the long run.

Easy entry and exit will ensure that there are a number of firms operating in the market making its demand curve very elastic. The more options people have the more elastic the demand curve will be.

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