Topic:  How is the text belowan application of our lectures so far. -Think microeconomically and discuss this excerpt from the perspective of our course. Analyze the changesand outcomes of what is happening inthe market for Coronavirus swabs. Use the languageof our lecturesby applyingconcepts, terms, modelswe learned.Other additional instructions below.Please read thetextMarch 2020. Did you know that only two companies in the world make all of the swabsused for Coronavirus testing? One, Puritan Medical Products,is in the US and the other in Italy, at one point the epicenter of the deadly disease. Apparently, there are 65 different kinds of swabs but the Coronavirus test uses a specific one called the ˜Flocked swab and they are diverting production to those due to the crisis.  We were getting calls from everywhere about our ability to produce as many swabs as we possibly can. Hospitals, clinics, other countries, Global and other domestic government organizations, State governments, working groups. We are focusing on the flocked swabs We are ramping up to produce and wrap a million swab a week that we need to distribute to the supply chains across the U.S. Hopefully we will be firing on all cylinders and getting as many wrapped as we possibly can. After they are produced, and before they can be shipped, the swabs have to be sterilized and wrappedin paper. The company prints about 100,000 labels per day on six printers. But, they first have to be shipped to another company for sterilization and then back to Puritan, and then sent off for distribution.  It isnt as simple as making them and simply sending them out. So, it takes time.  At this rate, in one weekend alone, we may have to be ˜wrapping ˜and sending off more than two million swabs. At the same time, we cant simply stop making the other medical devicesour regular customers depend on. The Coronavirus swabs cannot be ˜instead of. Puritan produces 1200 products including the 65 types of swabs.Puritan is extending its five-days-a-week schedule to six, running ˜at least 20 hours a day. The biggest challenge for Puritan, though, is a constant shortage of workers. Puritan is not a big-sized company and is located in a tiny town in Maine. New people dont exactly move to our town, while older employees are retiring. We are continually looking for more machine operator and mechanics. The problem is made much worse by Trumps ever stricter immigration policies. I could use 60 people tomorrow.President Trump faced criticism for not using the Defense Production Act as an emergency measure that could have mobilizedcertain unspecified facilities to increase production up to 20 million per month.Instructions:¢Start your essay with this sentence: The Coronavirus has had a significant microeconomic impact on themarket fortesting swabs. ¢Thediscussionmustbeat least 400words (not more than 700 words) Add word countat theend ¢Mustuseatleast7microeconomicterms(underlineintext). Avoid the very basicones.¢Typed/doublespace/font11Advice:  some tips while writing a draft:oAnnotate as you read the article (write in margin concepts or connectionsyou identify from our lectures) oWhy not use the help writing techniques we talked about and sampled-Term It! (Do your write-up , or summary then intentionally insert micro terms where they can fit to enhance your writing )oOr do a Free Write