Question $3(20$ points$)$: Please explain why a firm can lose money in the short$-$run, yet still remain in business $($i$.$e$.,$ not shut down$),$ using a properly labelled graph. Be sure to explain what is going on in your graph in words $($i$.$e$.,$ why the firm can remain in business$).$ Be sure to answer in the context of what we have learned in class.

Question $4(20$ points$)$: True$/$False$/$Uncertain: "A price ceiling imposed on an unregulated competitive market will reduce total surplus and definitely make both consumers and producers worse off". Assume normal$-$shaped supply and demand curves. Please answer using a graph. Be sure to also include an appropriate explanation in words, and to answer in the context of our in$-$class discussion.