After successfully completing your computer organization and architecture class, you have a brilliant idea for a new chip design that would make a processor six times faster than the fastest ones on the market today. unfortunately, it will take you four and a half years to save the money, create the prototype, and build a finished product. if moore's law holds, should you spend your money developing and producing your chip or invest in some other venture?

it was decent, could have been a little better.. how bout you lol.

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.