Suppose the demand function for a commodity is given by the equation p 16q 1,800 and the supply function is given by the equation 900 p 4q 0 Solve the supply equation for p p Substitute this value for p in the demand equation and solve for q q Find the equilibrium quantity Find the equilibrium price (Round your answer to two decimal places)$

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Question: Suppose the demand function for a commodity is given by the equation p + 16q =1,800 and the supply function is given by the equation

Suppose the demand function for a commodity is given by the equation p² + 16q =1,800 and the supply function is given by the equation 900-p² + 4q = 0.Solve the supply equation for p².p²=__________Substitute this value for p² in the demand equation and solve for q.q=__________Find the equilibrium quantity.__________Find the equilibrium price. (Round your answer to two decimal places)$____________

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