Assuming that the rate of change of the price P of a certain commodity is proportional to the difference between demand D and supply S at any time t, the differential equations describing the price fluctuations with respect to time can be expressed as: dP/dt = k(D - s) where k is the proportionality constant whose value depends on the specific commodity. Solve the above differential equation by expressing supply and demand as simply linear functions of price in the form S = aP - b and D = e - fP
Assuming that the rate of change of the price P of a certain commodity is proportional to the difference between demand D and supply S at any time t, the differential equations describing the price fluctuations with respect to time can be expressed as: dP/dt = k(D - s) where k is the proportionality constant whose value depends on the specific commodity. Solve the above differential equation by expressing supply and demand as simply linear functions of price in the form S = aP - b and D = e - fP
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 18T
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Assuming that the rate of change of the price P of a certain commodity is proportional to the difference between demand D and supply S at any time t, the differential equations describing the price fluctuations with respect to time can be expressed as: dP/dt = k(D - s) where k is the proportionality constant whose value depends on the specific commodity. Solve the above differential equation by expressing supply and demand as simply linear functions of price in the form S = aP - b and D = e - fP
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