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Homework (Ch 14) Attempts |1.5 2 Keep the Highest 2 / 5 8. Short-run and long-run effects of a shift in demand Suppose that the turkey industry is in long-run equilibrium at a price of $5 per pound of turkey and a quantity of 250 million pounds per year. Suppose that the Centers for Disease Control (CDC) announces that a chemical found in turkey is causing bacterial infections to spread around the world. The CDC's announcement will cause consumers to demand turkey 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 CDC's announcement. 10 Supply Demand Supply PRICE (Dollars per pound) Demand 50 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of pounds)