5. There are N>1 firms. Each firm is a price taker. At price level p, the output of a firm is q = p-1 The demand function for the total output (across N firms) is 15- p, p<5 Q = 10, p> 5 Firms can only produce a nonnegative quantity of goods, and p must be nonnegative. (a) Compute the equilibrium price and quantity such that the quantity demanded equals quantity supplied. 1 (b) How much do the equilibrium price and quantity increase if N is increased by 1?

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