A consumer's willingness to trade one good for another can be expressed by the consumer's A) marginal rate of substitution. B) indifference curve. C) Both A and B above. D) None of the above

Marginal rate of substitution

Indifference curve

Explanation:

Marginal rate of substitution is the act in which a customer substitutes some quantities of good for another and is still able to derive the same level of satisfaction . The substitution has to be marginal for the derived satisfaction to be maintained.

Indifference curve is a graphical representation of the combination of the quantities of goods that a customer perceives to be of the same value to him.

While the quantity of a good increases , the quantity of the other good decreases .

The two definitions above best describe the situation in the scenario.

all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.

hope this !

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.