Question 2 (20 marks) A. Assume the demand of tennis shoes is price elastic and supply of tennis shoes is price inelastic. Playing tennis has become a trendy sport recently and the number of tennis players has increased by 20%. Describe what would happen in the tennis shoes market. What will happen to the equilibrium price and equilibrium quantity? What do you find out about the degree of changes in the equilibrium price and quantity? Explain your findings