Homework help for intermediate microeconomics, thanks in advance, much appreciated.

1. Use supply and demand curves to illustrate how each of the following events would affect the price of butter and the quantity of butter bought and sold: (a) an increase in the price of margarine; (b) an increase in the price of bread; (c) a forecast that the price of butter will decrease in the future. (Note: since you are not given information about elasticity, it is only necessary to say whether the price and quantity will increase or decrease or have an uncertain change. You do not need to quantify the change.) 2. The market for a prescription drug is described by the following supply and demand curves: Q" =500-50p Q's =50+25p. (a) Do these demand and supply curves satisfy the Law of Demand and Law of Supply? Why or why not? (b) Find the equilibrium price and quantity. (c) Suppose a new drug is developed by another company, and this reduces demand for the original company's drug to QP =350-50p. Suppose also that the supply curve is not affected. Find the new equilibrium price and quantity