What is likely to happen if a borrower does not pay a mortgage for an extended period of time? The mortgage would convert to an unsecured loan.
The mortgage account would be closed.
The home would be foreclosed on.
The home would increase in value.

The home would be foreclosed on.

Explanation:

A home foreclosure refers to the process where a lending company obtains ownership of a property bought through a mortgage.  The mortgage company repossesses the home with the intent of selling it to recover its money. Foreclosure occurs should the homeowner default in their mortgage repayment.

A mortgage company charges penalties when a borrower misses a few installments. But when it is clear that the borrower cannot repay their mortgage, the lender initiates the legal process of repossessing the property. The repossessing process is home or mortgage foreclosure.

answerangel investor;

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.