(5 marks) Let TCf= 500 + 400 Qf+ 5 Qf2 for each firm. and therefore: MC = 400 + 10 Qf a.) (1 mark) Give the industry-level supply curve, assuming 50 such firms. b.) (1 mark) Assume the market is in a perfectly competitive equilibrium, with a demand curve of P = 1,000 - 0.1 Qmkt Find the equilibrium market quantity and price. c.) d.) e.) (l mark) (1 mark) (1 mark) Find firm-level profit in the above equilibrium. Find the long-term price. Assume new firms enter and drive the market to a long term equilibrium. How many firms will ENTER?