Q=1800 units. Firms can freely enter the market, but each firm is the single producer of its variety and produces one single variety. The demand function for a given producer is: q=Q(n148pp) where p is used to denote the price the firm chargos, and p the averago price on the market. We assume that firms are too small to affect p. The cost fusction for each firm is: c(q)=2400+75q 1. What is the name of this market structure? 2. Show that there are increasings returns to scale. 3. How does the average cost relate to the munher of firms n and to total units Q' Conment Hint: number that firmes arr symmetrie 4. Write the inverse demand function. the marginal rovman function, the margital cost function. 5. Destues the opeinal price charged lw each firm. How does this ogtimal price selate to the destree of competition