The price of Good X increases from $55 to $60, and quantity demanded decreases from 500 to 400. The price of Good Y increases from $55 to $60, and quantity demanded decreases from 500 to 475. Given this information, the: a. demand curves for Good X and Good Y violate the law of demand.
b. demand curve for Good X is more elastic than the demand curve for Good Y
c. consumers who buy Good X are less sensitive to price changes than consumers who buy Good Y
d. demand curve for Good X is less elastic than the demand curve for Good Y.

answer; offer in store wine and beer samples;

answer/// sequence of operations that requires the longest time for completion';

it's obviously d. it could be c though.

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.