1.Consider two (large) economies, Homeland and Forland, trading a single good. By assumption, the Homeland is the exporting nation, while the Forlandimports. The following equations describe demand and supply conditions in each country. Homelanddemand: P = 6 3Q Homelandsupply: P = 2Q Forlanddemand: P= 12 2Q Forland supply: P= 3Q a) Derive the Homeland's export supply equation and Forland's import demand equation. b) Determine the free trade price and the quantity exported/imported. c) Calculate free trade welfare in both countries