Each unit of finished product requires 3 feet of raw materials. the company maintains raw materials inventory equal to 2,000 feet plus 10% of the next month's expected production needs. the raw material used in dustman manufacturing corporation's product costs $4.50 per foot. what is the value of raw material that dustman manufacturing should plan on purchasing for the month of february?

answer; manager working long hours; plz check i believe this is correct good luck;

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.