Final answer:
The publication of positive research findings about tempeh can lead to a rightward shift in the demand curve, resulting in a higher equilibrium price and quantity for tempeh as consumers increase their demand for this health-beneficial product.
Step-by-step explanation:
If the tempeh industry is initially operating in long-run equilibrium at a price level of $5 per pound of tempeh and quantity of 50 million pounds per year, research findings can significantly impact this equilibrium. Assuming the research findings published in the medical journal are positive and highlight health benefits of consuming tempeh, we can predict a shift in the demand curve.
Consumer preferences will increase due to the positive research, leading to a rightward shift in the demand curve. As a result, at the original equilibrium price, the quantity demanded of tempeh will surpass the quantity supplied, creating a shortage. In response, the price of tempeh is likely to rise, and tempeh producers may ramp up production to meet the higher demand, leading to an increased equilibrium quantity.
The new equilibrium will settle at a higher price and a higher quantity compared to the original long-run equilibrium. This would mean that the price per pound of tempeh is expected to increase from $5, and the annual quantity sold is expected to rise beyond 50 million pounds, assuming the supply can accommodate the increased demand.