Managerial EconomicsAnswerthe following questions. Answers must be at least a paragraph in lengthbut no more than 2 paragraphs. Please provide references for youranswers.1. Is it appropriate to view firms primarily as economic entities? Why or why not?2.’Inthe long run, a profit maximizing firm would never knowingly marketunsafe products. However, in the short run, unsafe products can do a lotof damage.’ Discuss this statement.3. Please see attachment to complete the charts1.jpg2.jpg
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