Tools PRICE (Dollars per pound) 8. Short run and long run effects of a shift in demand Suppose that the turkey industry is in long run oibrium at a price of $3 per pound of turkey and the Surgeon General issues a report saying that nating turkry is bad for your heath The Surgeon General's report will cause consumers to demand, turkey at every price. In the short film by Shift the demand curve, the mupply curve, or both on the hollowing graph to ustrate these short run effects of the t of run effects of the Surgeon General's report Supply Demand Demand Supply PRICE (Deliars per pound) In the long run, some finns will respond by Shaft the demand curve, the supply curve, or both on the following graph to illustrate both the short run effects of the Surgeon General's report and the new long-run equilibrium after firms and consumers finesh adjusting to the news Demand Supply Demand Supply 1714 run. PRICE (Dollars per pound) 60 0 120 420 180 240 300 300 QUANTITY (Mions of pounds) Demand 480 540 600 Supply The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is in the long Grade It Now Save & Continue Continue without saving 60 Cloudy