2. Symbolic analysis of supply and demand: The following demand and supply functions provide a relatively general description of a market: Qd=ABP+CY (a q=o+m (M where P is the price, Y is a variabie denoting income, and [Ed and Q5 are the quantity demanded and the quantity supplied. A, B, C, D, and E all have values greater than zero. (a) There is a third equation (in addition to equations 3 8t 4} that compietes our mathematical model of market equilibrium. What is it? [b] Identity the parameters, endogenous variables, and exogenous variables in the above system of equations. (c) Derive expressions for the equilibrium market price (P') and quantity {0'} and illustrate your answers with a graph. Be sure to specify the symbolic values of the demand and supply curves where theyintersect with the Paxis and tilaxis in the positive quadrant. {d} Given your results from part {a}, use caiculus to determine the effect of a small change in income on the equilibrium price {P}