An empirical study compared the price of eyeglasses in states that restricted advertising by optometrists with those that did not. The study revealed: a. That the greater the level of advertising, the higher the average price of eyeglasses b. That the average price of eyeglasses in states where advertising was not restricted was higher than the average price in states where advertising was restricted c. That the average price of eyeglasses in states where advertising was restricted was higher than the average price in states were advertising was not restricted d. That the average price of eyeglasses did not differ between states where advertising was restricted and those in which advertising was not restricted

answer/// there is an inverse relationship between price and quantity demanded;

answer; /// the above statement is (false);

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.