Predict the cost of maintenance if 650 maintenance hours are to be worked next month: A) $ 16,150 B) $ 16,450 C) $ 16,350 D) $ 16,250

A) $ 16,150

Explanation:

Calculation to Predict the cost of maintenance

Using this formula

Cost of maintenance =Intercept+(Slope*Maintenance hours)

Let plug in the formula

Cost of maintenance=$5,750+(16*650 hours)

Cost of maintenance=$5,750 +10,400

Cost of maintenance=$16,150

Therefore the cost of maintenance if 650 maintenance hours are to be worked next month will be $16,150

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.