In the long run, some firms will respond byuntilShift 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 thenew long-run equilibrium after firms and consumers finish adjusting to the news.109.SupplyDemand7Supply4Demand21306090120150180210240270300QUANTITY (Millions of cans)The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry isin the longrun.PRICE (Dollars per can) Suppose that the tuna industry is in long-run equilibrium at a price of $5 per can of tuna and a quantity of 150 million cans per year. Suppose that theCenters for Disease Control (CDC) announces that a chemical found in tuna helps prevent many viral infections from spreading.The CDC's announcement will cause consumers to demandtuna at every price. In the short run, firms will respond byShift the demand curve, the supply curve, or both on the following graph to illustrate these short-run effects of the CDC's announcement.109.SupplyDemand7Supply43Demand21306090120150180210240270300QUANTITY (Millions of cans)PRICE (Dollars per can)

Equilibrium price= $5 Equilibrium quantity= 150

In the Tong run, some firms wili respond by 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. 10 9 Supply Demand 8 7 Supply Demand 30 60 90 120 150 180 210 240 270 300 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 PRICE (Dollars per can)

In the Tong run, some firms wili respond by 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. 10 9 Supply Demand 8 7 Supply Demand 30 60 90 120 150 180 210 240 270 300 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 PRICE (Dollars per can)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Hey I am wondering if you can draw me a graph that relates to what i wrote below... Please include a graph or two showing the economic effects of the war on the production of agricultural things and explain why what is happening is happening. As a result of Russia's invasion of Ukraine, agriculture in both Russia and Ukraine was severely disrupted. This represents a decrease in supply. Because demand is up we can say that we know that the equilibrium price will increase. Because there is uncertainty surrounding the conflict and the availability of agricultural commodities this has caused an increase in demand for these commodities. In class, I learned that if supply decreases and demand increases at the same time, the combined effects would be a significant rise in the equilibrium price. Graph one shows the effect of a decrease in supply on price, and graph two shows the combined effect of a decrease in supply and an increase in demand on price. As a result of decreased supply and…
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Iran has threatened to close the Straits ot Hormuz, a narrow passageway that connects the Persian Gulf and the Indian Ocean. As a result, gas prices have increased. What is the effect on grocery prices in general? What Will be the fifth on demand and supply of gas in Texas? 1. what has happened to his concern you as an economist?
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