Suppose that the seitan industry is initially operating in long-run equilibrium at a price level of $5 per pound of seitan and quantity of 200 million pounds per year. Suppose a leading foodie yideo blogger raises awareness for a scholarly article that links seitan consumption to premature hair loss and unhealthy skin. The viral video is expected to cause consumers to demand V seitan at every price. In the short run, rms will respond by V producing the same amount of seitan and earning positive profit raph to illustrate these shortrun eiects of the Viral video. exiting the industry producing less seitan and running at a loss producing more seitan and earning positive prot producing the same amount of seitan and running at a loss entering the industry Demand Shift the demand curve, the supply curve, or both on the following graph to illustrate both the short-run effects of the viral video and the new long- run equilibrium after firms and consumers finish adjusting to the news. 10 O Supply Demand CO Supply PRICE (Dollars per pound) w Demand horizontal 0 downward sloping 40 80 120 160 200 240 280 320 380 400 QUANTITY (Millions of pounds) upward sloping vertical The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long run.Suppose that the seitan industry is initially operating in long-run equilibrium at a price level of $5 per pound of seitan and quantity of 200 million pounds per year. Suppose a leading foodie video blogger raises awareness for a scholarly article that links seitan consumption to premature hair loss and unhealthy skin. The viral video is expected to cause consumers to demand * seitan 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 viral video. 10 O Supply Demand Co O Supply PRICE (Dollars per pound) wo Demand N 0 40 80 120 160 200 240 280 320 360 400 QUANTITY (Millions of pounds)In the long run, some firms will respond by each firm in the industry is once again earning zero profit ing graph to illustr seitan populations grow large enough to support more firms e news. new technologies are discovered that lower costs consumer demand returns to its original levelQUANTITY (MIIIOTIS 01 pounds) In the long run, some firms will respond by until producing less seitan and earning positive profit Shift the demand curve, the supply curve, or entering the industry port-run effects of the viral video run equilibrium after firms and consumers fir producing less seitan and running at a loss exiting the industry producing more seitan and earning positive profit producing more seitan and running at a loss 10