Xyz corporation was duly organized on july 10. its certificate of incorporation provides for a total authorized capital of $1 million, consisting of ten thousand shares of common stock with a par value of $100 per share. the corporation issued for cash a total of five hundred certificates, numbered one to five hundred inclusive, representing various amounts of shares in the names of various individuals. all the shares had been paid for in advance, so the certificates were all dated and mailed on the same day. the five hundred certificates of stock represent a total of 10,500 shares. certificate number 499 for 300 shares was issued to jane smith. certificate number 500 for 250 shares was issued to william jones. is there any question concerning the validity of any of the stock thus issued? explain. what are the rights of smith and jones? explain.

the correct answer is:     [c]:     " cyclical unemployment " .

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.