Refer to this income statement to answer the question below. Forks Gym Income Statement For the Month Ended August 31, Revenue: Membership Fees Revenue Rental Revenue Instruction Revenue Total Revenue 10,000.00 3,000.00 4,000.00 17,000.00 Expenses: Advertising Expense Rent Expense Utilities Expense Total Expenses 3,000.00 4,000.00 1,000.00 8000.00 Net Income 9,000.00 What is the total revenue for membership fees?

according to the song of roland, the characteristics of an ideal knight are: loyalty to the king, skilled warriors and horseman, valiant, bold, courageous, strong and proud in battle. they should be determined to fulfil their duties and willing to die to make their people safe.

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.