A New York city company buys a product from a manufacturer in Los Angeles. The buyer closes its books on June 30. Assume the following details: Terms of trade are FOB shipping point; buyer sends purchase order to seller on June 10; seller ships goods on June 15; buyer receives goods on July 5; buyer receives seller's invoice on July 10. Based on this scenario, when did the buyer recognize the liability

ok this has nothing to do with business

what

explanation:

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.