5. Suppose the market demand curve in a monopolistically competitive market contains the following combinations: Price 18 16 14 12 10 8 6 Q Demanded 0 10 20 30 40 50 60 70 In this market assume there are 10 firms, that each (on average) face the following demand curve for their own specific goods: Price 14 13 12 11 10 Q Demanded O 1 V V 2 3 4 In addition, suppose each firm (on average) has the following total cost information: Quantity O 2 3 4 5 O 7 8 Total Cost 10 16 20 25 32 40 50 62 75 a. Find the profit-maximizing price and quantity for each firm. b. Calculate the profit for each firm. c. What is the market price and quantity? d. In the long-run, will new firms enter or exit this market