Presented below is selected information related to Garryowen Company at December 31, 2017: Accounts Payable $3,300 Salaries and Wages Expense $18,150
Cash 9,900 Notes Payable 27,500
Advertising Expense 6,600 Rent Expense 10,780
Service Revenue 59,400 Accounts Receivable 14,850
Equipment 31,900 Dividends 8,250
Garryowen reports financial information monthly Determine the total assets of Garryowen Company at December 31, 2017.

answer the amount a seller is paid minus the cost of production;

answera public company has access to more capital;

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.