Question 10 (8 points) A sports shoe company sells 300,000 pairs of one of its products at an equilibrium price of $80 per pair. The board of directors, however, conducted an inquiry with the goal of reaching a new equilibrium price of $120 per pair, without losing customers (i.e., no decrease in the quantity demanded). As an aspiring new executive in the company, you propose that a marketing campaign be carried out, with targeted TV and Internet ads showing celebrities wearing the product. After some time running the campaign, the company achieved their goal (and, of course, you got a promotion and a bonus!) a) After the marketing campaign, did the supply or demand change? In which way? Explain. (4 marks) b) In a supply-demand diagram, show the supply and demand curves and the equilibrium price before the campaign. Then, on the same diagram, draw another curve, representing the shift caused by the campaign, and show the new equilibrium price of $120. (4 marks)