Step 1 :First, we set the supply equation equal to the demand equation to find the equilibrium quantity. This gives us the equation \(0.6q + 2 = -1.2q + 20\).
Step 2 :We can simplify this equation by adding \(1.2q\) to both sides to get \(1.8q + 2 = 20\).
Step 3 :Subtracting 2 from both sides gives us \(1.8q = 18\).
Step 4 :Dividing both sides by 1.8, we find that \(q = 10\).
Step 5 :Substitute \(q = 10\) into the supply equation \(p = 0.6q + 2\) to find the equilibrium price.
Step 6 :This gives us \(p = 0.6*10 + 2 = 8\).
Step 7 :So, the equilibrium price is \(\boxed{\$8.00}\) and the equilibrium quantity is \(\boxed{1000}\).