Maya is a part-time housekeeper at an assisted living facility, and she is about to graduate from high school. She needs to make a decision about the next step in her continuing education. She enjoys health care, and she is intrigued by the many commercials she sees on television for accelerated degree programs in medical assisting, occupational therapy, and other health care programs. However, these programs are expensive and she wants to keep her job. What are the personal and financial opportunity costs and benefits she faces if she pursues an accelerated degree program? Write your answer in the form of an email you are sending to Maya.

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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.