1. Suppose five years from now that the ranching industry is in long-run equilibrium at 70 cents per pound.
2. Graphically illustrate what that would look like for the ranching industry using side-by-side industry and firm graphs.
3. Then, suppose a new hormone shot is developed at Texas A&M University that allows all ranchers to cut their feed costs by 27 percent if they use this shot.
4. Graphically illustrate the short-run implications of this development in the ranching industry using a new set of side-by-side industry and firm graphs. Explain your answer.
5. Graphically illustrate the long-run implications of this development in the ranching industry using a new set of side-by-side industry and firm graphs. Explain your answer.

I keep doing it and getting it wrong, i need some help.