The demand and supply functions for hockey sticks are given by:

QD = 286 - 20P

QS = 88 + 40P

a. Find the horizontal and vertical intercept for both the curves. Draw the graph of supply and the demand curves, clearly showing the intercepts. Also find the slope of demand and supply curves. Show and explain all your work.

b.Determine the equilibrium price and quantity of hockey sticks using the equations and show the equilibrium on your graph that you drew in part a).(Do not draw a new diagram)

c. Suppose that both the men's and the women's teams win Olympic gold medals, causing an increase in the demand for hockey sticks across the country to

QD = 328 20P

What impact does this have on the price of hockey sticks and the quantity sold?Repeat drawingthe initial equilibrium graph and show the new equilibrium with the new demand curve to show how the equilibrium changes with change in demand equation. (This part should show a shift in the demand curve that you have drawn initially in part a). Make sure to show the intercepts of the new demand curve.