a) Suppose anuntimely gust ofwind has harmedthe production ofbanana that will affect its marketsupply negatively.Draw a figure (properly labelingthe axes)showingthe supply of anddemand for banana and provide a briefexplanation about what will happen to price of banana and why?

b)Suppose the demand function for banana is Qs =111.15P and supply function Qs=3+0.85P. Computetheprice elasticity ofdemand for banana. Roundyour answer to four decimal points.