Draw a demand curve for these sports shoes. Assume the vertical axis represents the price of the shoes and the horizontal axis represents the quantity of shoes demanded. Be sure to label your axes and curve properly. 1. Identify and shade the area that represents the consumer surplus when the price of the shoes is initially at P1. 2. Now suppose the price of the sports shoes falls to P2 due to a surplus of stock. On the same graph, draw a horizontal line to represent the new price level. 3. Identify and shade the new area that represents the consumer surplus at this lower price. 4. Explain what has happened to the consumer surplus as a result of the price decrease and why