Suppose there is a perfectly competitive industry in the short run where all the firms are identical. The identical firm's total cost function is TC=2q2+4q+50 where q is the quantity of output produced by the firm. Suppose that the market demand is given by: P=1004Qd where Qd is the quantity of market demand. The market supply is given by: P=Qs where Qs is the quantity of market supply. a. What is the market equilibrium price and quantity in short run? (5 points) b. How many firms are in the industry in the short run? (5 points) c. What is the profit the firm makes? (5 points) d. Should the firm implement a shutdown? (5 points) e. What is the market equilibrium price and quantity in long run? (5 points) f. How many firms will there be in the long run? (5 points)