Health Sciences homework help. ROUND ALL YOUR ANSWERS TO ONE DECIMAL PLACE.The total cost curve of each firm in a perfectly competitive industry is given to be: TC = 100 + q2where q represents the quantity sold by a single firm. The MC = 2q. Suppose that currently firms in this industry share a market demand given by QD = 3,000 7PDwhere P represents price unit and Q represents the total number of units sold in the entire industry. In longrun equilibrium:a) What is the profit maximizing level of output (q) each firm produces? q = ?b) What is market price? P = $?c) What is the market quantity (Q)? Q = ?d) How many firms will operate in this market? F = ?
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