New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue $ 66,100 Expenses: Salaries and Wages $ 42,100 Depreciation 7,310 Utilities 6,050 Office 1,710 57,170 Net Income $ 8,930 Decrease in Accounts Receivable $ 12,100 Paid cash for equipment 5,050 Increase in Salaries and Wages Payable 9,050 Decrease in Accounts Payable 4,275 Required: Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change?

answer(b) partnership';

answer about 4-5 percent of the labor force is unemployed;

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.