Patterson foods inc. was the first company to start selling energy bars in its country—a product that gained popularity among diverse groups. soon, other companies started to sell their own brands of energy bars, thereby giving patterson foods ample competition. in response, patterson foods decided to limit its variety of energy bars to only four. however, it ensured that these four varieties were low in calories and low in cost. with this innovation, patterson foods inc. consistently outperformed its competitors for ten years. in this scenario, patterson foods inc. maintained a through its innovative strategy.

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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.