2. The below graph shows the demand and supply curves for wool in the economy of Odessa (the quantities are in tonnes per year). 1000 900 800 700 600 500 Price ($) 400 300 200 100 20 40 80 140 60 100 Quantity of Wool a) What are the values of equilibrium price and quantity? b) If the price of wool were $500, would there be a surplus or shortage? How much? Suppose that the demand changed as shown in below graph