The effect of a tariff can lead to a monopoly advantage for firms inside the U. S. since they become the sole suppliers inside the U. S. will be more beneficial to large firms than to small firms. can lead to economies of scale for firms inside the U. S. is negligible since it applies to firms outside the U. S.

what are your options to your question?

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.

staple goods and impulse goods are examples of convenience products which consumers usually  buy. these products can be bought almost everywhere and are readily available for purchase. usually, the quality and price of the product are not considered. examples of staple goods are sugar and bread, while impulse goods examples are chocolates and magazine.