Answer this discussion in 200 words:At the start of the COVID pandemic in 2020, there was desperate need for more ventilators to care for patients. Ventac, a ventilator manufacturer, was producing about 100 units a month, presumably their profit maximizing rate of output. General Motors (GM) was called on to assist by producing 10,000 Ventac ventilators per month, presumably their profit-maximizing rate of output. Discuss why GM’s profit maximizing rate of output was so much higher than Ventac’s. Additionally, why has GM not continued to produce the Ventac ventilators, essentially stealing Ventac’s business?An effective way to organize this answer would be to all parts in a bullet list as follows and post the answers beneath each bullet.1) Discuss why GM’s profit maximizing rate of output was so much higher than Ventac’s.Post your answer here.2) Additionally, why has GM not continued to produce the Ventac ventilators, essentially stealing Ventac’s business?In addition, write 150 words as a seperate summary of the discussion.THEN, answer this discussion in 200 words:Review the Chapter 12 textbook reading, which covers concepts on costs of production and how it is common for firms to face increases in the cost of inputs like labor and materials.Additionally, find an article using your subscription to the Wall Street Journal detailing an instance where a firm faces an increase in its cost of inputs like labor and materials.In your post, summarize your article and explain which input costs are increasing and why. Be sure to reference the section 12-5, Table 3 to review the various types of costs.In addition, write 150 words as a seperate summary of the discussion.Textbook for reference:https://ift.tt/Rp1N8eC&

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