Suppose a representative firm in a perfectly competitive, constant-cost industry has a cost function TC = 2Q2 98Q 98. Instructions: Round your answers to the nearest whole number. a. What is the long-run equilibrium price for this industry? $ b. If market demand is given by the function Q = 980 P, where P denotes price, how many firms will operate in this long-run equilibrium? firms c. Suppose the government grants a lump-sum subsidy to each firm that manufactures the product. If this lump-sum subsidy equals 36, what would be the new long-run equilibrium price for the industry? $