Pick out the correct meaning listed below to define 'average income'.

Select one:
a. The average income is the same asper capita income.
b. The average income in a country is the income of only employed people.
c. Average income of the country
means the total income of the country,
d. The average income includes the
value of property held.

= The average income is the same asper capita income.

c. Average income of the country

means the total income of the country,

d. The average income includes the

value of property held.

= The average income is the same asper capita income.

Explanation:

c. Average income of the country

means the total income of the country,

d. The average income includes the

value of property held.

= The average income is the same asper capita income.

the answer is: guns or butter

hope i

-lavira : )

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.