Question 3 (Equilibrium) Suppose the market demand is QD firms in the market. Suppose N = 25. (a) What are the short-run equilibrium price and the equilibrium quantity? 200 P and the market supply is Qs = 2NP, where N is the number of (b) What is the output level for each firm? (c) What is the profit for each firm? (d) Repeat part (a) through (c) for N = 400. (e) Repeat part (a) through (c) for N = 100. (f) What is the long-run equilibrium price and the equilibrium quantity? (g) How many firms are there in the long-run equilibrium?