Question: Suppose that the tofu industry is initially operating in long-run equilibrium at a price level of $5 per block of tofu and quantity of 100
Suppose that the tofu industry is initially operating in long-run equilibrium at a price level of $5 per block of tofu and quantity of 100 million blocks per year. Suppose a top medical journal publishes research that animal-alternative protein sources such as tofu could increase your expected lifespan by 5 years. The publication is expected to cause consumers to demand tofu 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 publication
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