Mitchell hires christina to go from florida to new york and negotiate a contract for his company. he gives her specific instructions on what should be in the contract and a written letter that gives her authority to sign on his behalf. christina books a plane ticket, flies to new york, hires a cab, and successfully negotiates the contract. if christina is paid for the plane ticket and cab fare, as well as meals while in new york, it is most likely under the principal's duty of:

answer a is correct answer

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.