Homework $($Ch $14)$

$8.$ Short$-$run and long$-$run effects of a shift in demand

Suppose that the tempeh industry is initially operating in long$-$run equilibrium at a price level of $$5$ per pound of tempeh and quantity of $25$ million pounds per year. Suppose a leading foodie video blogger raises awareness for a scholarly article that links tempeh consumption to premature hair loss and unhealthy skin.

The viral video is expected to cause consumers to demand tempeh at every price. In the short run, firms will respond by

Shift the demand curve, the supply curve, or both on the following graph to illustrate these short$-$run effects of the viral video.