Consider a perfectly competitive industry with n identical firms. The inverse market demand function facing the firms is:

p = 30 0.009q

As mentioned the firms are identical and the optimal long run profit of each firm as a function of the market price is:

i(p) = p^2 2p 399

The long run supply function of each firm i, i = 1, , n is

Si(p) = 2p 2.

Find the equilibrium market price for this industry? Is it possible to say how many firms will be there ?