Market Equilibrium The demand for a brand of clockradio is given by p + 2q = 320, and the supply forthese radios is given by p - 8q = 20, where p isthe price and q is the number of clock radios. Solvethe system containing these two equations to find(a) the price at which the quantity demanded equalsthe quantity supplied and (b) the equilibriumquantity.

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A: Given,

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A: The explanation of answer as follows

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Q: 1. Write the solution of the system of equations: P₁ = 5p₁ - 4p₂ + e²t; p2 = P₁; P₁(0)=P₂ (0) = -11

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