For several years, GTW Corporation has provided its employees and their families with free memberships to the Fitness Club, a local health facility. The facility has recently undergone a significant expansion including an indoor pool, climbing wall, and racquetball courts, and has notified its members of a large rate increase effective next month. GTW's board of directors has rejected management's request to pay the new rate increase. Management must now inform employees that they must now pay a portion on their membership fees. Specifically, each employee will be required to pay $15 per month and an additional $5 for each family member. Required:
As the director of human resources for GTW, write a memo announcing the rate increase. Your memo should request that employees complete a form authorizing an automatic withdrawal from their paychecks.

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answer; buying the bill at a discount from the face value to be received at maturity;

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.