(Answered) Sleek Sneakers Co. Is one of plenty of firms in the industry for shoes. A) Assume the Sleek is...

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more Details:Sleek Sneakers Co. Is one of countless firms in the sector for shoes. A) Assume that Sleek is currently earning short-run financial profit. On a effectively labeled diagram, present Sleek’s profit-maximizing output and price, and the area representing profit. B) What happens to Sleek’s price, output, and also profit in the lengthy run? describe this change in words, and also show the on a brand-new diagram. C) mean that gradually consumers become an ext focused top top stylistic differences among shoe brands. Exactly how would this change in attitudes influence each firm’s price elasticity that demand? In the lengthy run, just how will this readjust in demand influence Sleek’s price, output, and profit? d) at the profit-maximizing price you established in part(c), is Sleek’s need curve elastic or inelastic? Explain.

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