A manufacturing firm estimates that it has a monthly inventory turnover ratio of 4. Of the total warehouse space, 30% is used for aisles. On average, a product occupies 0.2 cubic feet of space per lb and can be stacked 9 feet high on racks. What is the storage space requirement for May with anticipated demand of 70,000 lb? A. Less than 500 sq ft B. Between 500 sq ft and 1000 sq ft C. Between 1000 sq ft and 1500 sq ft D. Larger than 1500 sq ft

answerprotecting competitors;

answer about 4-5 percent of the labor force is unemployed;

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.