1. The demand curve have the given P-intercept and Q-intercept, which values are 10 and 80 respectively. Derive the demand equation and interpret the values of a and b of this equation.
2. The supply equation has P-intercept of 10 units and the quantity supplied is 30 units when the selling price is P12. Derive the supply equation. Interpret the values of a and b of this equation.
3. In problem 1 and 2, determine the price equilibrium and quantity equilibrium values. The price equilibrium should be in two decimal places and the quantity equilibrium should be rounded off to the whole value.

HI can you help me solve this and kindly explain how did you get the answers. Thanks