hire a similar manager), and the market demand is given by D(p)=9720p. Suppose there are 59 other identical firms in the market (i.e. 60 identical firms in total) and no entry or exit due to government regulation. What is the firm's profit? = 5. For the rest of the problem, assume that we are in the long run with free entry in the market. (a) What will be the long-run equilibrium price in the market? (p*)