Dream makers is a small manufacturer of gold and platinum jewelry. it uses a job costing system that applies overhead on the basis of direct labor hours. budgeted factory overhead for the year was $455,600, and management budgeted 33,500 direct labor-hours. the company had no materials, work-in-process, or finished goods inventory at the beginning of april. these transactions were recorded during april:

answer; ///decision making under risk;

answerpublic goods;

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.