The long-run average cost curve for a firm in an industry is:
ATC = 10Q2 - 50Q + 100, and its marginal cost is:
MC = 30Q2 - 100Q + 100.
Market Demand is given by:
Qd = 9000 - 200Pmkt
a) In the long-run equilibrium, how much will each firm produce?
b) What is the market equilibrium price?
c) What is the equilbrium number of firms in the market?