Trinitron Inc. had a balance of $32,000 in the Allowance for Doubtful Accounts and a balance of $650,000 in Accounts Receivable on the 1/1/20 balance sheet. During 2020, the company wrote off $16,700 of accounts and recovered $6,200 on accounts that had been previously written off. The balance in Accounts Receivable was $730,000 at 12/31/20 at which time the company estimates that 6% of accounts receivable will prove to be uncollectible. Trinitron would report as the 2020 Bad Debt Expense

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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.