All firms in a competitive industry have identical cost functions c(y) = y²+ 25 for y > 0 and c(0) = 0. The demand function for this industry is given by D(p) = 90 p.

If this industry is served by 8 firms in the short run, the equilibrium price in the short run will be?

If the market price is p = 18, each firm will supply an output of

If the market price is p=18, each firm will earn a profit of

In the long run, firms are free to enter and exit the market. The equilibrium price in the long run will be

In long-run industry equilibrium, each firm will supply an output of

In long-run industry equilibrium, the number of firms in the industry will be