By assuming P = 100 - 0.20Q is the industry demand function find the equilibrium Price, Quantity and Profit of each firm.

(Q.2)Using question 1 above and assume that:

C_i=i Q_i² i= 1, 2 , ....,n

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and 1/_i =30 ₁ * ₂ * .... * n =1/4

i=1

Drive the long-run equilibrium of the firm and industry. How many firms will be present in the industry in the long-run?