[Answered] ECON312N -Week 3 Discussion: Concepts of Cost Structures under Perfect Competition


ECON312N Principles Of Economics

Required Resources
Read/review the following resources for this activity:

  • Textbook: Chapter 7, 8
  • Lesson
  • 1 news article
  • Minimum of 1 scholarly source (in addition to the textbook)

Initial Post Instructions
For the initial post, address the following:

  • Locate a news article discussing a social services business failure or closure. Using the concepts in the lesson and Chapter 7, identify the root causes for the failure, examining the short run and long run. Use graphs if necessary.
  • Assume the business was in a perfectly competitive market. How do firms in a perfectly competitive market determine price and profit-maximizing output levels? How did these conditions affect the decision to close?

Follow-Up Post Instructions

Respond to at least one peer. Further the dialogue by providing more information and clarification.

Writing Requirements

  • Minimum of 2 posts (1 initial & 1 follow-up)
  • Minimum of 3 sources cited (assigned readings/online lessons, a news article, and an outside scholarly source)
  • APA format for in-text citations and list of references

This activity will be graded using the Discussion Grading Rubric. Please review the following link:

Course Outcomes (CO): 1, 6, 7

Due Date for Initial Post: By 11:59 p.m. MT Recommended by Wednesday
Due Date for Follow-Up Posts: By 11:59 p.m. MT on Sunday

Posts must be on two separate days.


“Lutheran Social Services of North DakotaLinks to an external site., a nonprofit agency that has provided various services since 1919, is closing its doors, citing financial struggles” (US News, 2021). This closure is due to the affordable housing part that only fore sought more financial losses for the future. Therefore, it deemed this closure necessary to prevent any further financial loss. This agency initially acted as a shelter for children that were neglected and orphans.…..please click the icon below to purchase the answer at 5