Swift plc acquired 75% of equity shares in Wren plc, on 11 January 20X6, when Wren's retained earnings were pound£124,000. An extract from the Statements of income of both companies for the year ended 3131 December 20X8 was as follows: Income statements Swift Wren For the year ended 31.12.20X8 £' 000 £' 000 Sales revenue 7,200 1,600 Cost of sales (5,450) (942) Gross profit 1,750 658 During the year ended 31 December 20X8, Swift sold goods invoiced at pound£400,000 to Wren at cost plus a third. pound£80,000 of these goods remain with Wren at the year end. What is the consolidated gross profit?

an online clothing brand

explanation:

answer; exemplars;

answer(b) equal; set period;

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.