There are 10 identical firms producing yak wool, each firm has a total cost function of c(r,w,y)=100+(rw)^0.5y²where y indicates number of bags of yak wool and r and w are input prices. this implies a marginal cost of production is 2(rw)^0.5y. there are a hundred identical consumers who each have an income of $1000, and who consume yak wool and also xenon. their preferences are summarized in the utility function u=x^0.5y^0.5this implies marginal utility of X=0.5x^-0.5y^0.5. because xenon is produced through a process with constant returns to scale, its price is constant, and we will assume It is one. denote the price of Y by P

1. then assuming we're in the long run, where firms can enter and exit, what is the long run competitive price and total quantity supplied? how many firms are operating in equilibrium? Assuming r=w=1.