question is below

0.1. Consider a perfectly competitive industry with E identical rms, 1,: IMN. For each rm in the industry total cost is given by TC = q 2 + 100, where q is the level of output. The industry demand curve (inverse) is given by P = 2400 Q Firm Industry emand: P = 2400 - Q a) If market price P = 60 compute each rm's optimal quantity and prots. b) Derive the equation for the short-run industry supply curve Q = f(P) c) The interaction of demand and short-run supply curves determines equilibrium price at $60 and output at Q*. Compute the number of rms d) Suppose now that demand decreases and the industry demand curve shifts to the left. The new demand is given by P = 702 Q. In response, industry output falls to Q; and price falls to Fe in the short-run. (i) Using the supply cum you derived above, compute (99, Fe) (ii) How many rms will leave the industry? (Use nearest integer number and ignore decimals)