3) Depending upon which you were assigned (Economic Profit or Economic Loss), fill in your diagram to show. Explain how you determined your answer. Be brief, but not terse. What should this entrepreneur do while in the Short Run? What about the Long Run? combined rate for wages of workers and raw materials inputs is $108/shift. 3) Depending upon which you were assigned (Economic Profit or Economic Loss), fill in your diagram to show. Explain how you determined your answer. Be brief, but not terse. What should this entrepreneur do while in the Short Run? What about the Long Run? combined rate for wages of workers and raw materials inputs is $108/shift