2. In the following market model, p is price, qD is quantity demanded and qS is quantity supplied: and qD=32p, qS=1+4p. Suppose that the market does not clear instantaneously, but that price increases when there is excess demand and decreases when there is excess supply: p=21(qDqS), where pdtdp. (a) (5) What is the equilibrium price? (b) (5) Write out a first-order differential equation of p. (c) (5) Solve (b) and find the time path of price. The initial price is given, p(0)=p0. (d) (5) What happens to p as t