In a perfect competition, the demand curve of a commodity is D=20-3p-p² and the supply curve is S=5p-1, where p is price, D is demand and S is supply. Find the equilibrium price and the quantity exchanged.

In a perfect competition, the demand curve of a commodity is D=20-3p-p² and the supply curve is S=5p-1, where p is price, D is demand and S is supply. Find the equilibrium price and the quantity exchanged.

Solution

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