In a particular market, the demand for a product is represented by the equation Qd = 50 - 2P, where Qd is the quantity demanded and P is the price of the product. The supply for the same product is represented by the equation Qs = 10 + 3P, where Qs is the quantity supplied.
Assuming both the demand and supply functions are linear, what will be the equilibrium price in this market?