Let the supply and demand functions for a certain model of electric pencil sharpener be given by $ p=S(q)=\frac{2}{3} q \quad $ and $ p=D(q)=12-\frac{2}{3} q $ where p is the price in dollars and q is the quantity of pencil sharpeners (in hundreds). Graph these functions on the same axes (graph the supply function as a dashed line and the demand function as A solid line). Also, find the equilibrium quantity and the equilibrium price.

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The Answer of Let the supply and demand functions for a certain model of electric pencil sharpener be given by $ p=S(q)=\frac{2}{3} q \quad $ and $ p=D(q)=12-\frac{2}{3} q $ where p is the price in dollars and q is the quantity of pencil sharpeners (in hundreds). Graph these functions on the same axes (graph the supply function as a dashed line and the demand function as A solid line). Also, find the equilibrium quantity and the equilibrium price.

Let the Supply and Demand Functions for a Certain Model p=S(q)=23q p=S(q)=\frac{2}{3} q \quad p=S(q)=32​q

Let the Supply and Demand Functions for a Certain Model $p=S(q)=\frac{2}{3} q \quad$