An industry is composed of 100 identical firms with short-run total cost

STC (q) = 2(q^2) + 6q + 18,

where q is the firm's output

1) Find the shut-down price level, under which the firm will stop producing. Find the break-even price level, above which the firm will make a positive profit.

2) Find the short-run supply functions for one frim and for the industry

3) Suppose the market demand function for the good produced by the industry is

QD (p) = 660-2p, where p is the market price (for p <= 330). Find the equilibrium price and quantity in the short run

4) ) For the long run, do you expect to observe entry of new firms to this market or exit from it? Explain briefly without calculations