There are 30 firms in a perfect competitive market that faces total costs according to the following total cost function: TC ¼ 5y2 while the demand function of the market is as follows: y ¼ 300  72p: Repeat Exercise 10 in this new scenario. Then answer to the following point.

a. Once you have assessed the extra profit of each firm also say whether there is still room for new market entrants at the market equilibrium price found.