The following data relate to a warehouse Rob purchased eight year ago. - Rob wants to sell the warehouse for at least $750,000 in the future. The sale will finance the purchase of other buildings in the future.

- Rob purchased a warehouse for $375,000 eight years ago.

- Warehouse sales data in the local area suggest that during the past year, the average selling price for a comparable warehouse was $550,000

- Rob has long-term debt of $600,000, of which $193,000 relates to the purchase of the warehouse.

What is the FAIR VALUE of the warehouse?

i believe the answer would have to be a dependable person

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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.