The Earring Market in the New Era Currently, the number of men who buy earrings for their

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Question:

The Earring Market in the New Era Currently, the number of men who buy earrings for their personal use is increasing. Although it usually looks like only one, the presence of men in a market that was previously almost exclusive for women has had an important impact. The supply and demand functions for gold earrings are described below so that you can examine the changes they have undergone:

Qd = 2M + 1H + Pan - Pp + Y - Par

Qs = 12 - W - r + Torque - Po

Where: M = Number of women who wear earrings

H = Number of men who wear earrings

Bread = Price of gold rings

Pp= Price of gold bracelets

Y = Consumer income

Pair = Price of gold earrings

W= Jewelers salary

r= Cost of use of capital in jewelry

Po= Price of gold

Considering that it is possible to buy earrings one by one (that is, it is not required to buy in pairs), answer the following questions:

a) What is the equilibrium quantity and price in the market for earrings when: M=49 H=1, Pan=50, Pp=50,Y=50, W=4, r=4 and Po=4?

b)If now the number of men who wear earrings is H=21, what will the new equilibrium be?