Consider the following general linear demand and supply functions that represent a market:   Qd = Z −GP                                                                                                 (3) Qs = D + EP+ CS                                                                                           (4) where P is the price, S is a variable denoting the average amount of production shipping costs, and Qd and Qs are the quantity demanded and the quantity supplied. Assume D, E, G, and Z all have values greater than zero. What equation (in addition to equations 3 & 4) completes our mathematical model of market equilibrium? Identify the parameters, endogenous variables, and exogenous variables in the above system of Derive expressions for the equilibrium market price (P∗) and quantity (Q∗) and illustrate your answers with a graph. Be sure to specify the symbolic values of the demand and supply curves where they intersect with the P-axis and Q-axis in the positive Given your results from part (a), use calculus to determine the effect of a small increase in shipping on the equilibrium price (P*). What is the sign of the expression you find? Be sure to briefly describe the logic you use to determine whether C is positive or negative

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