Concerning a fully amortized loan, it is correct to say that it is a loan characterized by: level payments with equal portions applied to interest and principal. level payments that cover all interest charged and reduce the principal to zero by maturity. payments of varying amounts necessary to cover interest and reduce principal to zero by maturity. level payments that first pay all interest owed over the term of the loan then pay off principal.

The correct answer is statement two which says that the amortized loans are those loans which have level payments that cover all interest charged and reduce the principal to zero by maturity.

Explanation:

Amortization can be defined as the process of paying off a loan by making regular payments in installments over a period of time.

Amortized loans are of two types, fully amortized and partially amortized.

In case of fully amortized loans, the payments are made according to the amortization schedule so that by the end of the set term, the loan is fully paid.

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explanation:

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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.