ng.cengage.com C Student Home Bb Homework (Ch 14) - 2022SP Prin of Micr. MindTap - Cengage Learning Mail - Jade Olivia Cowan - Outlook Mail - Jade Olivia Cowan - Outlook CENGAGE | MINDTAP Q Search this course ? ladev Homework (Ch 14) X Attempts Average /5 8. Short-run and long-run effects of a shift in demand Suppose that the tuna industry is in long-run equilibrium at a price of $5 per can of tuna and a quantity of 300 million cans per year. Suppose that the A-Z Centers for Disease Control (CDC) announces that a chemical found in tuna is causing bacterial infections to spread around the world. The CDC's announcement will cause consumers to demand _ tuna 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. ? Supply Demand Supply PRICE (Dollars per can Demand 120 180 240 300 360 420 480 540 600 QUANTITY ( Millions of cans) MacBook Air delete Q W R S D K return X C M command option command. ng.cengage.com C Student Home Bb Homework (Ch 14) - 2022SP Prin of Micr. MindTap - Cengage Learning Mail - Jade Olivia Cowan - Outlook Mail - Jade Olivia Cowan - Outlook Jade v CENGAGE | MINDTAP Q Search this course ? Homework (Ch 14) X In the long run, some firms will respond by until A-Z Shift the demand curve, the supply curve, or both on the following graph to illustrate both the short-run effects of the CDC's announcement and the new long-run equilibrium after firms and consumers finish adjusting to the news (? O Supply Demand Supply PRICE (Dollars per can) emand 60 120 180 240 300 360 420 480 540 QUANTITY (Millions of cans) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is_ in the long run. MacBook Air delete MM E V S C return M shi option command command option