Q.2. Antara and Neena, after several years of relentless research, have developed a fruit drink from two new species of fruits (available only in the Amazon rainforest) Antar and Neeny. They named the drink Antanee (pronounced as Anthony). They claim this drink to be unique to help maintaining sodium-potassium balance in the body and is rich in Vitamins A and C. The drink also claims to retain and maintain skin glow, builds immunity and keep teeth and gums healthy. They have patented the formula, as well. Consider the market for Antanee. The supply curve is given by Qs = 10P, - 5PA and the demand curve is given by QD = 100 - 15P, +10PM, where J denotes Antanee juice, A denotes Antar, and / denotes Neeny. Prices (P) are in hundreds of rupees. a. Assume that PA is fixed at 1 and PN = 5. Calculate the equilibrium price and quantity in the Antanee juice market. b. Suppose that a poor harvest season raises the equilibrium price of the juice by 2 (hundreds of rupees) now. Find out the loss in consumer surplus due to this increase in price. c. Suppose PA =1, PN = 5, and there is a price ceiling on Antanee juice of P) = 5. Calculate (the value) if there would be surplus or shortage