Question from MGEA02

A perfectly competitive industry has 125 firms each of whom have fixed costs of 132 dollars and whose variable cost of production is given by VC = 300 + 5q + 3(q^2), where (q^2) means q times q (or q squared). If the market demand is given by P = 107 - 0.02Q, then the initial equilibrium price is and quantity is Suppose an excise tax of $17 per unit is imposed on suppliers in this market. As a result, the deadweight loss of the tax is Later in the new long-run equilibrium rounding to the nearest integer value the number of firms will be