Maben company was started on january 1, year 1, and experienced the following events during its first year of operation: acquired $30,000 cash from the issue of common stock. borrowed $40,000 cash from national bank. earned cash revenues of $48,000 for performing services. paid cash expenses of $25,000. paid a $1,000 cash dividend to the stockholders. acquired an additional $20,000 cash from the issue of common stock. paid $10,000 cash to reduce the principal balance of the bank note. paid $53,000 cash to purchase land. determined that the market value of the land is $75,000.

answer; decentralized;

answer when little or no data is available;

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.