HMGT438WK4DISC4.docx

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ONLY USE THE READING PROVIDED

Include the two questions that you selected to discuss at the top of your initial posting. 

· What are the characteristics of a perfectly competitive market?

· What is the difference between variable and fixed costs, how do they change in short-run vs. long-run? Provide an example in healthcare.

· What does increasing returns mean in the short-run? Provide an example of increasing returns?

· From an economic perspective, at what point does a firm decide to shut-down? Explain.

· When a market is perfectly competitive what does this imply about the supply curve and the price charged for a particular good?

· What is the level of profits in the long-run in a perfectly competitive market? Explain why.

· What is the difference between an economic and accounting profit?

· What is the principle of diminishing marginal return?

APA Requirements -Include Scholarly Evidence: Include at least TWO APA formatted references with correlating in-text citations.