b) Consider the equation for the supply as

…… (1)

Again consider the equation for the demand as

…… (2)

Where, p is the price and q is the number of products.

We can obtain the market equilibrium when p and q satisfies the equations (1) and (2). Now we get equilibrium price p, by solving equations (1) and (2).

To get p, we substitute the value of q of equation (1) in the equation (2)

Therefore, the price that gives the market equilibrium is.