Acompany's sales in seattle were $350,000 in 2012, while their sales in portland were $260,000 for the same year. complete the following statements: a. seattle's sales were % larger than portland's. b. portland sales were % smaller than seattle's. c. portland sales were % of seattle's.

The answers are:

Explanation:

To calculate answer 1 you must divide Seattle´s sales over Portland´s sales, then subtract 1, and finally multiply by 100.

= [ ($350,000/260,000) - 1 ] x 100 = 34.6%

To calculate answer 2 you must subtract the result form dividing Portland´s sales over Seattle´s sales from 1, and then multiply by 100.

= [ 1 - ($260,000/350,000) ] x 100 = 25.7%

To calculate answer 3 you must divide Portland´s sales over Seattle´s sales, and then multiply by 100.

= ($260,000/350,000) x 100 = 74.3%

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.