An industry consists in n firms. All firms produce the same good and firms have the same cost function c (y)=2.y. Assume that at the equilibrium of the simultaneous quantity setting model, all firms produce the same quantity, that is, assume that the equilibrium is symmetric.

1. Assume the aggregate demand curve is Y = p^-3. Find, as functions of n: the price, the per-firm output, the total output, the per-firm profits, the total profits at the equilibrium. Obtain their limits for n +.

2 Same questions as in 1 above for the aggregate demand curve Y = 10 p