Which of the following statements is correct? Purely competitive firms, monopolistically competitive firms, and pure monopolies all earn zero economic profits in the long run. Purely competitive firms, monopolistically competitive firms, and pure monopolies all earn positive economic profits in the long run. In the long run, purely competitive firms and monopolistically competitive firms earn zero economic profits, while pure monopolies may or may not earn economic profits. Monopolistically competitive firms earn zero economic profits in both the short run and the long run.

answer; communities of interest; i believe this is correct, plz check first good luck;

answer/// real gdp decreases to y3 and the price level falls to p3;

answercold,maybe nuclear war;

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.