Now suppose that the market demand curve shifts right to Q = 2000 - 50p . (f) What is the resulting short-run equilibrium price, total industry output, output per 2 pts firm, and profit per firm? (g) What will happen to the number of firms in the long run as a result of the part-(f) 1 pt short-run equilibrium and why?3. The industry of some perfectly competitive market has a large number of potential entrants. Each rm therein faces constant input prices and has an identical cost structure such that long-run average cost is minimized at an output of 20 units. The minimum average cost is $10 per unit. Total market demand is given by Q=150050p