10. Each of 10 firms in a given industry has the costs given in the left-hand table. The market demand schedule is given in the right-hand table.

a. What is the market equilibrium price and the price each firm gets for its product?

b. What is the equilibrium market quantity and the quantity each firm produces?

c. What profit is each firm making?

d. Below what price will firms begin to exit the market?

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Total Quantity Cost Price Quantity Demanded 0 12 2 110 123 24 4 100 27 6 90 31 8 80 4 39 10 70 567 53 12 60 73 14 50 99 16 40