Gordon's family health insurance costs $6,000 annually. Gordon and his wife are in the 24% marginal tax rate bracket. His employer offers a cafeteria plan that would allow him to cover the insurance premium. How much would the insurance coverage effectively cost if he took advantage of his employer's cafeteria plan

answertop managers;

answer blank(1).(2); sharpe;

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.

the answer is d. many career choices to make.