Suppose that the identical firms in a perfectly competitive market for cakes have long-run total cost functions given by TC(Q) = 2Q3 - 6Q2 + 10Q. Total cost is independent of the number of firms and total output in the market.
a. Describe the long-run supply curve for this industry.
b. Suppose market demand is 
= 2,500 - 30P. Solve for the long-run competitive equilibrium price, output per firm, and number of firms in the market.
Definitions:
Behavioral Crisis
A situation where an individual's behavior poses an immediate danger to themselves or others, requiring urgent intervention.
Primary
Referring to the first or most significant stage, condition, or rank.
Secondary
Pertaining to the second level or stage in a sequence or process, often implying a subordinate or lesser importance than the primary.
Tertiary
Referring to the third level or stage of something, often used in education (tertiary education) or in structures and processes.
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