A customer has been following the price movements of XYZ stock during this day's trading session. At 10 minutes prior to market close, the customer calls her representative and says: "Buy XYZ stock for me - get it at a good price - but make sure you get it." The customer hangs up and the representative calls the client back to ask how many shares she wants to buy, but she cannot be reached. The representative should:

answer; property tax payment made in july and december;

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.