the question will be on file please. i had to take multiple screenshot to show every thing

7. 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 300 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report will cause consumers to demand _ turkey at every price. In the short run, firms will respond by less Shift the demand curve, the supply curve, or both on the follow more h to Mustrate these short-run effects of the Surgeon General's report. (?) Supply Demand PRICE (Dollars per pound) Supply 60 120 180 240 300 360 420 480 540 600 QUANTITY (Millions of pounds) In the long run, some firms will respond by until Shift the demand curve, the supply curve, or both on the following graph to Mustrate both the short-run effects of the Surgeon General's report and the new long-run equilibrium after firms and consumers finish adjusting to the news. (?) Supply Demand PRICE ( Dollars per pound) Supply 120 180 240 300 360 420 480 540 600 QUANTITY (Millions of pounds) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long run.7. 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 300 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report will cause consumers to demand _ turkey at every price. In the short run, firms will respond by producing more turkey and earning positive profit aph to Mustrate these short-run effects of the Surgeon General's report. producing less turkey and running at a loss producing the same amount of turkey and earning positive profit (?) exiting the industry producing the same amount of turkey and running at a loss entering the industry Demand PRICE (Dollars per pound) Supply 60 120 180 240 300 360 420 480 540 600 QUANTITY (Millions of pounds) In the long run, some firms will respond by until Shift the demand curve, the supply curve, or both on the following graph to Mustrate both the short-run effects of the Surgeon General's report and the new long-run equilibrium after firms and consumers finish adjusting to the news. (?) O Supply Demand PRICE (Dollars per pound) Supply Demand 180 240 300 360 420 450 540 QUANTITY (Millions of pounds) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long run7. 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 300 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report 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 Mustrate these short-run effects of the Surgeon General's report. (?) O- PRICE (Dollars per pound) m - Supply Demand Supply 60 120 180 240 300 360 420 480 540 QUANTITY (Milions of pounds) In the long run, some firms will respond by until producing less turkey and running at a loss Shift the demand curve, the supply curve, exiting the industry ort-run effects of the Surgeon General's report and the new long-run equilibrium after firms producing more turkey and running at a loss producing less turkey and earning positive profit entering the industry producing more turkey and earning positive profit O Supply Demand PRICE (Dollars per pound) Supply 60 120 180 240 300 360 420 480 540 600 QUANTITY (Millions of pounds) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long run.7. 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 300 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report 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 Mustrate these short-run effects of the Surgeon General's report. (?) O Supply Demand PRICE (Dollars per pound) Supply 60 120 180 240 300 360 420 480 540 600 QUANTITY (Millions of pounds) In the long run, some firms will respond by until turkey populations grow large enough to support more firms consumer demand returns to its original level ng graph to illustrate both the short-run effects of the Surgeon General's report ish adjusting to the news. each firm in the industry is once again earning zero profit (?) new technologies are discovered that lower costs Supply Demand PRICE (Dollars per pound) Supply Demand 60 120 180 240 300 360 420 480 540 QUANTITY (Milions of pounds) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long run.7. 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 300 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report 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 Mustrate these short-run effects of the Surgeon General's report. (?) 10 Supply Demand PRICE ( Dollars per pound) Supply Demand 180 240 300 360 420 480 540 600 QUANTITY (Milions of pounds) In the long run, some firms will respond by until Shift the demand curve, the supply curve, or both on the following graph to Mustrate both the short-run effects of the Surgeon General's report and the new long-run equilibrium after firms and consumers finish adjusting to the news. (?) Supply Demand PRICE ( Dollars per pound) Supply upward sloping 60 120 180 240 300 360 420 480 540 600 vertical QUANTITY (Millions of pounds) horizontal downward sloping The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long run.7. 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 300 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report 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 Mustrate these short-run effects of the Surgeon General's report. (?) O Supply Demand PRICE (Dollars per pound) Supply Demand 60 120 180 240 300 360 420 450 540 600 QUANTITY (Millions of pounds) In the long run, some firms will respond by until Shift the demand curve, the supply curve, or both on the following graph to Mustrate both the short-run effects of the Surgeon General's report and the new long-run equilibrium after firms and consumers finish adjusting to the news. (?) Supply Demand PRICE (Dollars per pound) Supply 0 60 120 180 240 300 360 420 480 540 600 QUANTITY (Millions of pounds) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long