The rockwell electronics corporation retains a service crew to repair machine breakdowns that occur on an average of l = 3 per day (approximately poisson in nature). the crew can service an average of m = 8 machines per day, with a repair time distribution that resembles the exponential distribution. (a) what is the utilization rate of this service system? (b) what is the average downtime for a machine that is broken? (c) how many machines are waiting to be serviced at any given time? (d) what is the probability that more than one machine is in the system? probability that more than two are broken and waiting to be repaired or being serviced? more than th

what are the sentences? so we can answer the question.

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.