Amsterdam company uses a periodic inventory system. for april, when the company sold 600 units, the following information is available. units unit cost total cost april 1 inventory 250 $10 $ 2,500 april 15 purchase 400 12 4,800 april 23 purchase 350 13 4,550 1,000 $11,850 compute the april 30 inventory and the april cost of goods sold using the fifo method. ending inventory $ cost of goods sold $ link to text

the interest will be $59.71

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answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.