The purpose of posting is to options: list the transactions in chronological order in the journal provide an explanation of the transaction update the account balances in the ledger correct a previous entry

An accounting record in which transactions are initially recorded in chronological order. -Transactions are initially recorded in chronological order in a journal before being transferred to the accounts. -The journal shows the debit and credit effects on a specific accounts for each transaction.

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.