in 2008 the box industry was perfectly competitive. the lowest point on the long run average cost curve of eachof the identical box producers was $4 and this minimum point occured at an output of 1000 boxes per month the market demand curve for boxes was Qd = 140000-10000p where p was the price of the box and Qd was the quantity of the boxes demanded per month. the market supply curve for the boxes was Qs = 80000+5000p where Qs was the quantity supply for the boxes per month. a> what was the quilibrium price of a box? is this the long run equilibrium price? b> how many firms are in this industry when it is in long run equilibrium?
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