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Question 3 [30 marks] Bush res and drought have destroyed banana farms in Australia. Manufacturers of banana products are discussing ways of averting a projected shortfall in banana. The manufacturers are teaming up with farmers to trial a new specie of banana that could mature in three months. With the aid of the demand and supply diagra m, answer the following questions: a. Analyse the impact of the bush fires and drought on the supply of banana. b. Suppose demand for banana products increases soon after the drought and bushres. Analyse the effect on the equilibrium quantity and price of banana. c. Analyse the effect on the equilibrium quantity and price of banana, if the trial of the new specie is successfully. clearly state any assumptions you make. [Word limit for Question 3 only: 600 words]