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

question 48

Multiple Choice

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

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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

Definitions:

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