Question 3 (b) The Coca-Cola Company is an American multinational corporation, and manufacturer, retailer, and marketer of non-alcoholic beverage concentrates and syrups. The company is best known for its flagship product Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton in Atlanta, Georgia. In Ghana, the company was formed from a divestiture of Bottling Division of G.N.T.C in March 1995 and started operations on March 7, 1995 at the GNTC plant at Adjabeng. The new premises sited off the Spintex Road, was commissioned in 1996. Since the divestiture, the Company has invested over US$90 million in vehicles, glass bottles, plastic bottles, plastic crates, production and marketing equipment. In 2019, the company contracted an economist who estimated the demand function for the company's product (Coca-Cola) using data from 28 supermarket as follows: la + 0.5P 24 = 0 where P is the price per bottle and Qd is the quantity demanded. In addition, the economist also estimated the supply function for product as follows. 4Qs - 3P + 4 = 0 where P is the price per bottle and Qs is the quantity supplied. As the consultant of this company, you are to use this information to: (i) Determine the equilibrium level of price and quantity 1 marks (ii) Represent your answer graphically by sketching the demand and supply curves. 2 marks (iii) Determine the welfare of economic agents using integration 3 marks (iv) Suppose the government imposes a tax of $4 on every bottle sold, determine the new equilibrium price and quantity 3 marks (v) How will the consumers and producers share the tax per unit? 1 mark