Purdum farms borrowed $15 million by signing a five-year note on december 31, 2015. repayments of the principal are payable annually in installments of $3 million each. purdum farms makes the first payment on december 31, 2016 and then prepares its balance sheet. what amount will be reported as current and long-term liabilities, respectively, in connection with the note at december 31, 2016, after the first payment is made?

y=mx+b is the right slope of velocity carry the 4 over

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.