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4. Given the following system equations of price (P) and quantity (Q) determination in a widget market: Demand: Q = a - b P +

4.Given the following system equations of price (P) and quantity (Q) determination in a widget market:

Demand: Q = a - b P + e G .....(1)

Supply:Q= c +d P - f N......(2)

Where the price of substitute good, G, and the cost of production, N, are the exogenous variables. Q and P are endogenous variables.

By using theMATRICES and VECTORS method (MATRIX ALGEBRA), please find equilibrium P and Q.

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