The Demand for the Output of a Multi-Firm Industry Is

Multiple Choice

The demand for the output of a multi-firm industry is Q_T = 50 !2.5P. The total cost of production of an individual profit-maximizing firm in this industry is TC₁= 4Q₁. If this industry is comprised of 20 firms, firm 1's profit is about:

A) $29.
B) $31.
C) $43.
D) $51.
E) None of the above is correct.