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Sixty identical firms in a perfectly
competitive market face the following cost function:

TC = 10 + 18 q + 3q2;

Furthermore, the market demand curve is:

Qd = 240 – 2P;

Find the short-run supply curve of the
firm and the market. What is the price, quantity, profit/loss for
each firm? Is this industry in long-run equilibrium? If not, what
will be the price in the long-run and how many firms will be in the