(b)Assume that prior to the passage of the Truth in Lending Simplification Act (TLSA) and Regulation Z, the demand for consumer loans was Qd = 12 - 100P and the supply of consumer loans was Qs = 5 + 100P, where Qd and Qs were the quantity of consumer loans demanded and supplied (in billions of dollars), respectively, and P is the unit price of consumer loans (interest rate). After the passage of TLSA, the demand for consumer loans changed to Qd =18 - 100P, and the supply of consumer loans changed to Qs = 3 + 100 P. Determine the impact of the passage of TLSA on the equilibrium quantity and price (interest rate) of consumer loans. (c)Graphically illustrate and explain in (c) above.