Suppose that the chicken industry is in long-run equilibrium at a price of $5 per pound of chicken and a quantity of 50 million pounds per year. Suppose that WebMD claims that a protein found in chicken will increase your expected lifespan by 3 years. WebMD's claim will cause consumers to demand less of chicken at every price. In the short run, firms will respond by entering the industry Shift the demand curve, the supply curve, or both on the following graph to Mustrate these short-run effects of WebMD's clawn. LL O Supply Demand Supply PRICE (Dollars per pound) Demand 10 20 30 50 60 70 90 100 QUANTITY [Millions of pounds) In the long run, some firms will respond by exiting the industry until each firm in the industry is once again earning zero profitShift the demand curve, the supply curve, or both on the following graph to Mustrate both the short-run effects of WebMD's claim and the new long- run equilibrium after firms and consumers finish adjusting to the news. 10 O Supply Demand Supply PRICE (Dollars per pound) Demand downward sloping horizontal 10 20 30 40 50 TO 90 100 QUANTITY (Millions of pounds) vertical upward 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