Linear equations

Question

Supply : p= S(q)= 3/4q

Demand: p= D(q)=60-1/5q

1)Find the equlibrium quanity

2)Find the equilibrium price

Answer 1

3/4 Q = 60 - 1/5 Q

3/4 Q + 1/5 Q = 60

19/20 Q = 60

Q = 60*20/19 = 1200/19

(3/4)(1200/19) = 900/19

60 - (1/5)(1200/19) =

60 - 240/19 =

1140 - 240 / 19

900/19

1200/19, 900/19