During the current year, Vera receives the following payments: Interest from Third National Bank Savings Account $1,000 Toaster oven received for opening the savings account 100 Interest from treasury bond interest 2,000 Interest from City of Nassau, Bahamas, bonds 500 Interest from Federal income tax refund 75 How much of the payments received by Vera is taxable

a

b

b

a

c

b

d

d

none of these are correct, as they are all sources of american law

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.