The supply function and the demand function for a product are linear and are determined by the tables that follow. Supply Function Price ($) Quantity 70 125 120 150 220 200 Demand Function Price ($) Quantity 10 355 60 330 160 280   Write an equation for the supply function's price p as a function of q. Write an equation for the demand function's price p as a function of q. Find the quantity and price that give market equilibrium.

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Q: Find the equilibrium point of the demand and supply equations. Demand Supply p = 430 - 0.0001x p =…

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Q: price

A: Please refer to the image below

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.