In a perfectly competitive market:

the market price is 20

marginal cost(MC) = 2(Q)+2

average total cost at equilibrium is 30, and

average variable cost at equilibrium is 8.

1. the profit maximizing price is?

2. the profit maximizing quantity is?

3. total revenue is?

4. total cost is?

5. average fixed cost is?

6. total fixed cost is?

7. total profit/loss is?

8. marginal revenue is?

9. at this market price, would firms:

a) enter the industry

b) leave the industry

c) there is no incentive to enter or leave the industry

10. at the market price, could this be a long run equilibrium price?