Which of the following food and beverage options may be provided at an educational event if the nominal retail value of the items when combined with other giveaways does not exceed $15 per person? (Select 2)

the correct choice is a

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.

housewives doing day to day to work like cooking, laundry and so on.

a person doing a work for hobby like gardening, fishing, painting and so on.

work done for charity like taking tuition classes of poor children, providing free services to earthquake victims, a blind man in crossing road and so on.

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