If the demand function for a commodity is given by the equation p2 + 16q = 1200 and the supply function is given by the equation 300 − p2 + 6q = 0, find the equilibrium quantity and equilibrium price.

Answer 1

just solve the two equations...
p^2 + 16q = 1200 ---> p^2 = 1200 - 16q

300 - p^2 + 6q = 0 ---> p^2 = 300 + 6q

300 + 6q = 1200-16q
22q = 900
q = 900/22 = 450/11 = appr 40.9

then p^2 = 300 + 6(450/11) = 4650/11 = appr 422.7