Blossom clinic purchases land for $45 cash. the clinic assumes $4000 in property taxes due on the land. the title and attorney fees totaled $3200. the clinic had the land graded for $6100. what amount does blossom clinic record as the cost for the land?

The answer is: The cost of the land is $457,200

Explanation:

To determine the total cost of the land acquired by the Blossom Clinic, we must add the purchase price, unpaid property taxes and legal fees.

Cost of the land = $450,000 + $4,000 + $3,200 = $457,200

Land grading is not included since it is a type of land improvement.

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.