Rj corporation has provided the following information about one of its inventory items: date transaction number of units cost per unit 1/1 beginning inventory 480 $ 2,050 6/6 purchase 890 $ 4,150 9/10 purchase 1,310 $ 5,650 11/15 purchase 970 $ 5,350 during the year, rj sold 3,380 units. what was ending inventory using the lifo cost flow assumption under a periodic inventory system?

answer; erp systems;

the correct answer for apex is “ doubling a recipe and figuring out how many cups of paint to use are both examples of using math skills”.

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.