Economics Homework help.. Price/ Quantity Demanded Watch

vt007
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Assume there are 500 identical firms in the industry...?
and that they have identical cost data as the firm you have been working in the previous questions. The industry demand schedule is as follows:
Price/ Quantity Demanded
70 2500
50 3500
35 4000
25 5200
20 5900

What will the equilibrium price be?
What will the equilibrium quanttity be?
How many units will each firm produce?
What will the economic profit (+) or loss (-) be per firm?
Will firms enter or exit the market?
What will the price in the long run be?
Approximately, how many firms are in the long run?
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