Step 1 :Set the supply function equal to the demand function: \(q^2 + 7q = 1020 - 19q - q^2\)
Step 2 :Rearrange the equation to get a quadratic equation: \(2q^2 + 26q - 1020 = 0\)
Step 3 :Use the quadratic formula to solve for q: \(q = \frac{-b \pm \sqrt{b^2 - 4ac}}{2a}\)
Step 4 :Substitute the values of a, b, and c into the quadratic formula: \(q = \frac{-26 \pm \sqrt{(26)^2 - 4*2*(-1020)}}{2*2}\)
Step 5 :Solve the equation to get two possible values for q, but discard the negative value: \(q = 15\)
Step 6 :Substitute q = 15 into the supply function to get the price: \(S(15) = (15)^2 + 7*15 = 330\)
Step 7 :The equilibrium point is \(\boxed{(15, 330)}\)