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?
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