Design an efficient algorithm to find all the common elements in two sorted lists of numbers, For example, for the lists 2, 5, 5, 5 and 2, 2, 3, 5, 5, 7, the output should be 2, 5, 5. In addition, Demonstrates the description of following stages of algorithm design. 1. Description of problem 2. Identifying the appropriate technique 3. Pseudo code of the algorithm 4. Time and Space complexity of the algorithm