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In a certain market in the long-run, each firm and potential entrant has a long-run average cost curve AC =10 Q 2 5 Q +20

In a certain market in the long-run, each firm and potential entrant has a long-run average

cost curve AC=10Q²5Q+20 and long-run marginal cost curve MC=30Q²10Q+20 where Qis thousands of units per year. Market demand is given by D(P) =39,000 2,000P .

a) In equilibrium, how many units will each firm produce?

b) What is the market equilibrium price?

c) What is the equilibrium number of firms in the long-run?

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