Pick the incorrect statement(s) related to cash dividends from below. I. Extra cash dividends can be repeated by a firm. II. Regular cash dividends are paid out of net income. III. A dividend is never a liability until it has been declared. IV. The dividend yield expresses the annual dividend as a percentage of current stock price. V. If a firm has paid regular quarterly dividends for at least five consecutive years, it is legally obligated to continue doing so.

answer; refusing to share information without the client's permission

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.