Hale's tv production is considering producing a pilot for a comedy series in the hope of selling it to a major television network. the network may decide to reject the series, but it may also decide to purchase the rights to the series for either one or two years. at this point in time, hale may either produce the pilot and wait for the network's decision or transfer the rights for the pilot and series to a competitor for $100,000. hale's decision alternatives and profits (in thousands of dollars) are as follows:

answer; schedule c;

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.