Which has greater elasticity: a supply curve that goes through the origin with slope of 1 or a supply curve that goes through the origin with slope of 4?

Answer and Explanation:

As we know the elasticity of supply defines the relationship between the percentage change in quantity supplies with respect to the percentage change in price

Now in the case when the supply of supply curve would be high that represents it is sleeper and when it is steep so the demand curve i.e. shifted would have high change in price as compared with quantity

So here the lower slope i.e. 1 contains the high elasticity as compared with the highest slope i.e. 4

answer///(d)individual rights of a person are integral to analyzing the morality of action;

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.