3.8 A typical firm in long-run equilibrium in an industry with identical firms has a cost function given by C = 800 + 2q2 and has a marginal cost function of MC = 4q. The fixed cost of 800 is avoidable if the firm shuts down. What is the equilibrium price? (Hint: See Q&A 8.30.) 3.9 Given the cost information in the previous question and a demand function of Q =2,400 -5p, how many firms are in this industry in the long-run equilibrium