Assume there are 500 identical firms in this industry, that they have identical cost data as the firm above, and that the industry demand schedule is as follows: _ Quantity (e) What will the equilibrium price be? w (f) What will the equilibrium output for each firm be? $72 2500 (Q) What will profit or loss be per unit? 52 3500 (h) What will profit or loss be per firm? 45 4000 28 5200 22 5900 15 6700