Find the equilibrium point (q,p) for a product whose supply and demand equations are 35q - 2p + 250 = 0 and 65g + p - 537.5 = 0 respectively, where p is the price per unit and q is the quantity. Select one: O (5, 212.5) O (2, 160). O No Solution O (250, 537.5)

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A: The equilibrium point is the point where demand equation and supply equation is equal.

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A: I am attaching image so that you understand each and every step.

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Q: Q.5 (a) Retailers will buy 45 cordless phones from a wholesaler if the price is $10 each but only 20…

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Q: Find the equilibrium point (q. p) for a product whose supply and demand equations are 35q-2p +250 =…

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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.