You are a store manager for a midsize shoe retailer located near the campus of a large state university. During the summer months, you need fewer retail associates. You have a great team and don’t want to impact employee morale negatively by laying off members of the team. Therefore, in order to reach the best outcome, you decide to try to convince your retail team to schedule vacation time carefully so that no one will be laid off for the summer. Is this informal or formal? which communication channel would be most appropriate?

answer; (c) communism and socialism;

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.