2. As in the previous problem, suppose Gihun's cost function is C(Q] = 321-202, and that Gihun is one of many chauffeurs with identical costs in a competitive industry. Suppose the market demand curve for rides is Qd=1DOD-P. a. Find the individual seller's supply curve. [1 point) b. In longrun equilibrium, what must each seller's prots be? Find the longrun equilibrium price that satisfies this profit condition. (Hint: your answer in question 1, part 0' may be useful here.) {4 points] c. In longrun equilibrium, what is the market quantity, and what is the quantity supplied by an individual seller? [2 points] d. How many sellers will be in the market in longrun equilibrium? Given this number and your answerfrom part {a}, nd the market supply curve. {4 poi nts) e. Suppose demand decreases to Qd'=?DO-P. Find the new short-run equilibrium price and market quantity. {3 points) f. In the new shortrun equilibrium, find the individual seller's quantity supplied and profit. [4 points] g. Given the prot result you found in part If], will sellers enter or exit the market in the long run? Find the new longrun equilibrium price, market quantity, and quantity supplied by the individual seller. {4 points) h. How many sellers will be in the market in the new long-run equilibrium? Given this number and your answer from part (a), find the new market supply curve. {3 points)