If price rises, what happens to supply for a product?

a) it does not change.
b) the uncertain-economic theory has no answer to this question.
c) it increases.
d) it decreases.

d) It increases.

Explanation:

In case of supply of products, if price increase, supply also increase. Supply is directly propotional to the price. unlike demand of products and services, where it is inversly propotional to the price. These law come under price elasticity of demand and supply, it shows the reponse of consumer with the change in price. Supply has upward slope with the change in price. In the free market, every seller or producer are competing for profit, however, it never remain constant for all time. Therefore, company shift their focus to more profitable goods and services, which lead to shift in supply of goods and services with the change in price.

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.