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What will the equilibrium price

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Now assume there are 500 identical firms in this industry, that they have identical cost data as the firm above, and that the industry demand schedule is as follows:

Price

Quantity Demanded

$72

2500

52

3500

45

4000

28

5200

22

5900

15

6700

(a) What will the equilibrium price be?

(b) What will the equilibrium output for each firm be?

(c) What will profit or loss be per unit?

(d) What will profit or loss be per firm?

Reference no: EM131111138

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