Let the demand and supply be: Q d = - P + (dP/dt) Q s = -
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Question:
Let the demand and supply be:
Qd= - P + (dP/dt)
Qs= - + P where (, , , >0)
Assuming that the rate of change of price over time is directly proportional to excess
demand, find the time path, P(t) (general solution).
How do you solve the differential equation?
Expert Answer:
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