The market for chocolate covered macadamias is characterised by demand Qd = 600 7 p. lnitially. there are only 10 rms selling chocolate Dovered macadamias. and strict barriers to entry prevent any new rms from entering the market. Each has costs given by ch) = q2 + 4 fun] > U and C(q) : D for q : D. If rounding is needed. please round your answerS to Sdp. a} (0.5 point] Itall 10 rms behave like price-takers, what will be the price of chocolate covered macadamias? E b] (0.5 point} Now barriers to entry are lifted. and any number of identical rms (With the same cost structure) can enter. How many new rms (Le. not counting the original 10) will have entered when the market l5 in long run equilibrium? E c) ('I point) Now suppose a new type of rm with a new technology for producing chocolate covered macadamias arrives on the scene. Each of these new rms has costs given by C(q] = 572 + 1 for q > 0 and C(11) = U for g : Cl. lfthere are no barriers to entry or exit for either the old or new rms. in the long run equilibrium. now many of the new rms will be operating in the market? E d] (0.5 point) How many of the old rms (with the original cost sthcture) Will be operating in the market? E