PLEASE HELP ME WITH ANSWER AND EXPLAINATION PLEASE:

PLEASE HELP ME WITH THESE QUESTIONS:

QUESITON 8: A town has perfectly competitive market for liquor stores consisting of identical firms with costs:

C(q)=q²+25

The demand is Q_D=1000-10p.

Find the long-run equilibrium price

QUESTION 9: Continuing with the previous question, what is the equilibrium market output (Q*)?

QUESITON 10: Continuing with the previous question, what is the equilibrium number of firms?

QUESTION 11: Continuing with the previous question, what is the consumer surplus?

QUESTION 12: Continuing with the previous question,

A town has perfectly competitive market for liquor stores consisting of identical firms with costs:

C(q)=q²+25

The demand is Q_D=1000-10p.

Suppose the government requires firms to get a license to operate and limits the total number of licenses issued to 60 (so there are only 60 firms). Find the long-run equilibrium price with a restriction of N=60 firms

QUESTION 13: Continuing with the previous question,

A town has perfectly competitive market for liquor stores consisting of identical firms with costs:

C(q)=q²+25

The demand is Q_D=1000-10p.

Suppose the government requires firms to get a license to operate and limits the total number of licenses issued to 60 (so there are only 60 firms). Find the long-run equilibrium Market Quantity with a restriction of N=60 firms

QUESTION 14: Continuing with the previous question,

A town has perfectly competitive market for liquor stores consisting of identical firms with costs:

C(q)=q²+25

The demand is Q_D=1000-10p.

Suppose the government requires firms to get a license to operate and limits the total number of licenses issued to 60 (so there are only 60 firms). In equilibrium, how much rent does each firm in the market earn? (your answer should include 2 decimal places)

QUESTION 15: Continuing with the previous question,

A town has perfectly competitive market for liquor stores consisting of identical firms with costs:

C(q)=q²+25

The demand is Q_D=1000-10p.

Suppose the government requires firms to get a license to operate and limits the total number of licenses issued to 60 (so there are only 60 firms). In equilibrium, what is the consumer surplus?

QUESTION 16: Continuing with the previous question,

A town has perfectly competitive market for liquor stores consisting of identical firms with costs:

C(q)=q²+25

The demand is Q_D=1000-10p.

Suppose the government requires firms to get a license to operate and limits the total number of licenses issued to 60 (so there are only 60 firms). What is the deadweight loss from the restriction?

Hint: Add up the consumer surplus and rents to all the firms in the market. Compare this to the consumer surplus without the restriction.