Problem
1. Is the analysis for maximizing profits the same as that for minimizing losses? Explain why it is or why it isn't.
2. What is the difference between the firm's short-run supply curve and its long-run supply curve? Make up an example to explain your answer.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.