3.03b Homework X a.instructure.com/courses/11021/assignments/797187#submit nit 1 - T... t er Calendar News Untitled presentation. Copy of 2020-2021._ Copy of ENG 9 Post. Price Qd Qs $1 100 10 $2 80 35 $3 60 $4 40 35 $5 20 110 1. What are the equilibrium price and quantity of yo-yos? Explain your answer, and show your work. 2. If price in the market is $2, will there be a surplus or shortage of yo-yos and how large will the surplus/shortage be? Explain your answer, and show your work. 3. If price is $2, will price tend to increase, decrease, or stay the same over time? 4. If the price in the market is $5, will there be a surplus or shortage of yo- yos and how large will the surplus/shortage be? Explain your answer, and show your work. 5. If price is $5, will it tend to increase, decrease, or stay the same over time? DELL C