Suppose the daily demand function for pizza in St. Catharines is Qd = 1525 5P . For one pizza store, the variable cost of making q pizzas per day is C(q) = 3q+0.01q^2, there is a $100 fixed cost, and the marginal cost is MC = 3 + 0.02q. There is free entry in the long run.

(e) The marginal cost decrease by $1 per pizza and the fixed cost decreased to 81 at the same time

For each scenario, calculate the new short-run market equilibrium, the profit of the firms, the new long-run market equilibrium (i.e., the equilibrium price and quantity, and the number of firms in the equilibrium), and show the short-run and long-run equilibrium on a graph