The perfectly competitive sword manufacturing industry in Westeros has 1,000 identical firms. For each firm in the industry, thelong-runcost of producing q units of output is:

()=2

2

+800

.We can assume free entry and exit into this industry. Furthermore demand is vertical; the knights of Westeros need their swords!

a) What is the price faced by consumers, P=____. (4 marks)

b) What is the quantity produced by each firm, q=____.(4 marks)

c) What is the total number of swords produced by firms in Westeros,Q=____.(2 marks)

You do not need to explain or show your work, just provide answers to the ____ spaces.