Font Paragraph 1. Name the two curves on the right $100 pair Market demand curve for shorts Market supoly curve for shorts 2. Assume demand for shorts is depicted by Do and supply of shorts is depicted by Sor Determine the following. if the price of shorts - $70/pair 4 million shorts 7 million pairs/month where Of shanty is an abbreviation for the tree y supplied whatty of shorts ( w c. size of the excess supply of shorts = 3 million shorts d. What is market force will cause this excess supply of shorts to eliminated in a short period of time Price 3. Assume Demand is depicted by Do & Supply is depicted by So, determine the follow if the price of shorts =$50/pair a b. g'shere c. size of the excess demand for shorts (if the paga, = $50/pair) = d. What will cause this excess demand for shorts to persists.? 4. Assume Demand is depicted by Do & Supply is depicted by So, determine the market equilibrium price of shorts (abbreviated as Powel and the market equilibrium quantity of shorts (abbreviated as quot) b. gishona = 5. Determine the new market equilibrium price and the new equilibrium quantity, if demand (D) increases by 30 million pairs at every price, because more buyers enter this market (hint: find new demand curve, keeping supply curve constant, at So) a Poor= $70/pair b. 9 bonds = 7 million pairs/month 6. determine the new market equilibrium price and the new equilibrium quantity) if supply (S) decreases by 6 million paus at every price, because there are fewer sellers of shoes (hint: find new supply curve, keeping demand curve constant, Le D