1. Ch. 4 By using the Repeated Substitution Method only to answer the following Microeconomics question: Given the following system equations of price (P) and quantity (0) determination in a widget market: Demand:Q=abP+eG ..... (1) Supply: 0: c + dPfN ...... (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 the repeated substitution method, please find P and Q. (You must show your work. This means that no work = no credit.) 2. Ch. 5 By using Matrix Algebra method only, please answer the following Macroeconomics question: Consider the simplified, two-equation, national income model Y=C+I C=a+bY Where national income (Y) and consumption (C) are endogenous variables and investment (I) and government spending. 2. Ch. 5 By using Matrix Algebra method only, please answer the following Macroeconomics question: Consider the simplified, two-equation, national income model Y: C + I C=a+bY Where national income (Y) and consumption (C) are endogenous variables and investment (I) and government spending. The parameters in the consumption function, where a represent the autonomous consumption expenditure and b represents the marginal propensity to consume, respectively. 2-a) Set up this model with a 2 x 2 matrix of coefficients matrix, a 2 x 1 vector of endogenous variables, and a 2 x 1 vector of constants (consider I + G to be one constant). 2-b) The model can be expressed as Ax = y, where A is the coefficient matrix, x is the vector of endogenous variable, and y is the vector of constants. Find the solution of x. (You must show your work. This means that no work = no credit.)