Hello tutors, thank you for helping me on this review question!

1. Long-Run Equilibrium. Consider the market from Problem Set 3 Q2, with demand Q = 100 - 5P and cost function C(q) = N +1+ 1092. (a) In the SR, you should have found that each firm's supply curve is q = 5P. If there are initially 15 firms (who all act as price-takers and all have this cost function), what's the short-run equilibrium price? (b) Now find the long-run equilibrium price, and quantity per firm (taking N as given, i.e. keep N as a variable in your answer; quantity per firm and long-run equilibrium price should be functions of N). (c) Show that there should be 9 firms in the long-run equilibrium